Estate Plan Considerations for Frequent Flyers
While you can’t think of every possible contingency when developing your estate plan, you want to give consideration to matters that are relevant both in general and for your family in particular. If you travel on a regular basis, that means that there should be a few extra contingencies in your plan. Here are two things that you need to think about.
- Does your estate plan take into account the possibility of dying in a foreign country? – Whether you travel for business or pleasure, if you are spending a great deal of time in other countries, this is a legitimate consideration. You need to think about the expense of repatriating your body or the costs of being buried in the land where you pass away, and how either situation should be handled by your next of kin.
- Does your estate plan account for the possibility of you and your spouse dying together? – While flying is a relatively safe form of travel, accidents and other disasters can happen. If you and your mate regularly travel together, you need to be sure that your estate is prepared. Leaving everything to your mate only works as an estate plan if your spouse survives you. You need other contingencies in place just in case that isn’t how things work out.
Smarter Planning for the Future in Southern California
The estate planning pros at Petrov Law Firm can help you to plan ahead for the contingencies that may affect your family. To learn more, give us a call at 619.344.0360, and schedule a consultation to set up your estate plan or to review an existing one.