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Fear Drives Rise in Estate Planning in the U.K.

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It is always a good time to get an estate plan no matter the specific reason for it. However, it is curious that people in the United Kingdom are getting estate plans just before they plan to go on vacation.

These so called "Holiday Wills" are being sought out of fear of terrorist incidents and plane crashes according to the Daily Mail in "After terror attacks and the MH370 disappearance more people are making 'holiday wills' because they're afraid of dying in a plane crash."

It is not known if the U.S. is experiencing a similar trend of people getting estate plans before going on vacation, but the article's advice for people who do get them is mostly applicable to Americans as well.

It includes:

  1. Getting a properly drawn up will takes time so plan well in advance instead of waiting until the last minute.

  2. Make sure that your estate planning documents have been properly signed and executed before you leave on vacation.

  3. Make sure that your executor knows where to find your will.

  4. Check to ensure that any financial accounts you own have the correct beneficiaries.

  5. Make a filing system for your financial documents to make it easier for you executors to sort everything out.

  6. If you have special funeral requests, let people know what they are.

  7. Get powers of attorney as well in case you do not pass away, but something happens to incapacitate you.

  8. Get traveler's insurance so you and your family are covered if anything happens and funds are available to bring your remains back home.

A qualified estate planning attorney can help you get all of this completed according to your wishes and the specific legal requirements of your state.

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