Page 22 - Southern Exposure - August '24

Page 22, Southern Exposure BW

EldEr EstatE planning

Eight Estate Planning Things To Do Before You Travel

By Anné Desormier-Cartwright, JD.

Eight Estate Planning plan, the more likely they are to accept it—and that will help is at your own risk, as it expresses no opinion by the firm on
Things To Do Before You to avoid discord after you are gone. your specific circumstances or legal needs. An attorney client
Travel If you have questions about your estate plan and what relationship is not created through the information provided
Before any trip, most of documents you should have in place to plan your estate, herein.
us create a “to-do list” of schedule a free consultation today by calling our office at To comply with the U.S. Treasury regulations, we must
things we have put off and (561) 694-7827, Anné Desormier-Cartwright, Esq., Elder inform you that (i) any U.S. federal tax advice contained in
want to take care of before and Estate Planning Attorneys PA, 480 Maplewood Drive, this newsletter was not intended or written to be used, and
we leave. Here is a checklist Suite 3, Jupiter, FL 33458. cannot be used, by any person for the purpose of avoiding
of estate planning things to The content of this article is general and should not be U.S. federal tax penalties that may be imposed on such person
do before you take your next relied upon without review of your specific circumstances by and (ii) each taxpayer should seek advice from their tax
trip. Taking care of these will competent legal counsel. Reliance on the information herein advisor based on the taxpayer’s particular circumstances.
help you travel with peace of
mind, knowing that if you don’t return due to serious illness
or death, you have made things much easier for those you LET US HELP YOU
love.
1. Have your estate planning done. If you have been
procrastinating about your estate planning, use your next
trip as your deadline to finally get this done. Be sure to allow Ship Your Valuable Packages & Furniture
adequate time to get your estate plan completed in advance
of your trip.
2. Review and update your existing estate plan. • CLOTHING • SCULPTURES • CUSTOM PACKING AND CRATING
Revisions should be made any time there are changes in • ARTWORK
family (birth, death, marriage, divorce, remarriage), finances, • DISHES • ESTATES PACKING AND
tax laws, or if a trustee or executor can no longer serve. Again, • ANTIQUES • COMPUTERS SHIPPING
be sure to allow enough time to have the changes made. • FURNISHINGS • FURNITURE SHIPPING • BOXES AND PACKING SUPPLIES
3. Review titles and beneficiary designations. If you
have a living trust and did not finish changing titles and/
or beneficiary designations, now is the time to do so. If a WE PACK AND FREE
beneficiary has died or if you are divorced, change these
immediately. If a beneficiary is incapacitated or a minor, SHIP WITH TLC PICK UP AT YOUR
you should set up a trust for this person and name the trust LOCATION
as beneficiary to prevent the court from taking control of the
proceeds.
4. Review your plan for minor children. If you haven’t
named a guardian who is able and willing to serve and
something happens to you, the court will decide who will
raise your kids without your input. If you have named a
guardian, consider if this person is still the best choice.
Name a backup in case your first choice cannot serve. Select
someone responsible to manage the inheritance.
5. Secure or review incapacity documents. Everyone
over the age of 18 needs to have these: 1) Durable Power of
Attorney for Health Care, which gives another person legal
authority to make health care decisions (including life and Dishes, Glasses, Furniture
death decisions) for you if you are unable to make them for
yourself; and 2) HIPPA Authorizations, which give written Copies, Fax Service, Notary, US Mail, Stamps
consent for doctors to discuss your medical situation with
others, including family members.
6. Review your insurance. Check the amount of your
life insurance coverage and see if it still meets your family’s
needs. Consider getting long-term care insurance to help pay
for the costs of long-term care (and preserve your assets for
your family) in the event you and/or your spouse should need
it due to illness or injury.
7. Organize your accounts and documents. It used to be
that we could just point to a file cabinet and say everything Phone: 561-799-3900
was “in there.” But now so much is done online that there 10130 Northlake Blvd. #214
may not even be a paper trail. Make a list of all of your Fax: 561-799-3905
accounts, where they are located, and the user names and West Palm Beach, FL. 33412
passwords, then review and update it before each trip. Print Cell: 561-598-4413
a hard copy in case your computer is stolen or crashes and
let someone you trust know where to find it. Clean up your Ask For Jean or Joseph
computer desktop and put your financial and other important
files where they can be easily found. Make a backup copy
in case your computer is stolen or crashes, and let someone
know where to find it. Be sure to include on your master list The UPS Store The UPS Store
any passwords that might be needed to access your computer
and files.
8. Talk to your children about your plan. You don’t
have to show them financial statements, but you can discuss Show Your AAA
in general terms what you are planning and why, especially 18¢
when any changes are made. The more they understand your
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