Wills 101 written by Little Steps Asia
Little Steps Asia gives an introduction of what a Will is and the necessity of why it is we need to have one set up.
Why Little Steps loves it: “It’s important to sort out your Will for your family. Hong Kong based, Phoenix Wills can help you arrange it all. Wills, Enduring Powers of Attorney, Advance Medical Directives (Living Wills), Deeds of Appointment of Guardians, and they also offer safe storage of your Wills in their secure storage facilities…they make it easy, affordable, and offer top security too.”
Before we travel we are quick to make a checklist of things to plan and pack, from our skis and sunnies to our favourite travelling shoes or much-needed neck pillow. However, what most of us tend to forget or are blissfully unaware of is the checklist (touch wood) we’d need in case of an unfortunate event.
No one expects the worst, but should anything happen during a trip, your loved ones could be thrown into an extremely vulnerable, difficult and emotional place. It is always best to rather be safe than sorry and to ensure you protect your loved ones.
Travel with peace of mind that your affairs are in order and that you have made necessary provisions and wishes for you and your family with this checklist of things to consider before you head off:
Making a Will and putting your affairs in order is one of the most important tasks you can carry out. Whether you are married, single, have children or no children we should all have a Will, and if you haven’t written one, before you travel would be a good time to write one. If you have already drawn up your Will, before travelling is a chance to make sure you have reviewed it and made sure it is up to date.
If you have children that are minors, it is an extremely important provision for all parents to make in appointing them temporary and permanent guardians in case of an event if anything were to happen to both parents. It is possible to name guardians in a Will and best to back your Will up with separate deeds of appointment of guardianship where parents can name temporary and permanent guardians for their children that will enable and ensure children are taken into care by the appointed guardians immediately.
Are you an adrenaline junkie and one for those dare devil activities then drawing up an Advance Medical Directive is a definite must-do before your next holiday. If a serious health crisis or accident where to occur and you are unable to speak or make your wishes known, a Living Will or Advance Medical Directive will enable you to make sure that those in charge of your care know what you want. A Living Will would allow somebody you have appointed to act on your behalf and give you authority to make medical decisions as it states your wishes about your medical treatment you want followed in the event you become seriously ill or incapacitated.
In addition to a Living Will it would make sense to write an EPA, which is similar to an ordinary Power of Attorney and is a document in which you appoint a person of your choice to give them financial power of attorney to act on your behalf if you are unable to manage your own finances and affairs.
The next time you plan for a holiday, please do keep in mind our Phoenix Wills checklist of must-dos and take some time to consider and gather all your documents needed to make necessary provisions for you and your family. In that way you can look forward to your travels with the peace of mind that you have left your Last Will and Testament, wishes and estate in the best shape possible.