If you are getting ready to go on vacation but feel uncomfortable because you have planned your vacation better than you have planned your legal affairs then you are not alone.
It’s only natural to have some concern in case something unexpected might happen while away. Underlying this nagging concern are two levels of reality. Why are you holding back from getting your affairs in order? What can and should you do before leaving?
Procrastination and apprehension over one’s mortality are two common reasons why people indefinitely postpone getting their affairs in order.
However, consider the following: It is far easier to get one’s affairs in order when there is no compulsion to do so and when times are easy as opposed to doing so under compulsion in an emergency; and, getting one’s affairs in order gives one an immediate peace of mind to live life more fully.
What one can do varies with one’s own circumstances and needs.
Some people only need a simple will (I.e., those with small estates under $150,000) while most other people need a living trust to avoid probate at death and perhaps for other reasons.
That said, anyone can write a handwritten will prior to going on vacation in order to have some peace of mind that their estate, even if subject to probate, will nonetheless go to their intended death beneficiaries.
This is especially true for unmarried couples who wish to leave some portion of their estate to their partner; otherwise the probate assets will all pass to their heirs.
Using a handwritten will is neither a desirable approach nor a long-term solution. It is not as reliable and helpful as an attorney prepared and executed will.
How is a valid handwritten (holographic ) will executed?
Unlike a regular will a holographic will is handwritten and is not witnessed. The essential requirements are as follows: First, the will must show the testator’s testamentary intentions (I.e., “this is my will”). Second, the will must state the bequests (gifts).
Gifts can be stated in various ways: Specific gifts of items of property to named persons and/or to identifiable classes of people (e.g., my children, my spouse); and/or percentages (that total 100%) of one’s remaining estate allocated to specific persons and/or classes.
Third, a primary and alternative executor(rix) to administer the will should be named. Finally, the will must be signed and dated by the testator.
Also, with retirement and life insurance plans, it is wise to call the administrator and enquire who is named as primary and alternative death beneficiaries.
One may be surprised to learn that no alternative beneficiary is named or that who is named is no longer appropriate. If necessary, request a change in death beneficiary form and instructions.
Next, everyone should have powers of attorney for incapacity planning to control financial, property and health care decisions during the principal’s disability. Incapacity planning can be accomplished most simply by completing California’s Uniform Statutory Power of Attorney and Advance health care declaration forms.
Explanations for each of the individual powers listed in the power of attorney can be obtained by going on-line and searching for “California uniform statutory power of attorney explanation of powers.”
Is the foregoing approach to estate planning ideal or completely sufficient?
Not usually. Laypersons using the above approach will not typically cover all the important issues they need to address.
For example, conferring gifting authority to transfer real and personal property to loved ones, which is often relevant for Medi-Cal planning purposes, requires additional special instructions to be added to the statutory power.
Before leaving on vacation, place all legal documents in a safe location and ensure that the necessary persons have access. Then relax and enjoy your vacation!
Dennis A. Fordham, attorney (LL.M. tax studies), is a State Bar Certified Specialist in Estate Planning, Probate and Trust Law. His office is at 55 First St., Lakeport, California. Dennis can be reached by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 707-263-3235. Visit his Web site at www.dennisfordhamlaw.com .