With the holiday season in full swing, many of us have planned local or overseas vacations to relax, unwind, and reflect on the past year with family and friends. An often-ignored aspect of careful holiday planning, however, is the necessity to update one’s will before departure.
As exciting as travel may be, it also exposes one to additional risks. Unfamiliar environments, increased road use, or participation in adrenaline-pumping physical activities, such as skiing, water tubing, or mountain climbing, heightens the potential for accidents. This risk is exacerbated if one suffers from pre-existing health issues and where access to familiar medical care and support is limited.
Accordingly, it is imperative to update your existing will to ensure that it aligns with your current circumstances and testamentary wishes in case of unforeseen tragedy. For instance, significant life events, including marriage, the birth of children, divorce, or the acquisition of new assets, such as immovable property, artwork, or jewellery, may necessitate amendments for estate planning purposes. Importantly, an accurate and up-to-date will allows you to maintain control over the distribution of your assets and reduces the potential for conflict among beneficiaries.
Above all, knowing that your will is updated before you embark on vacation provides peace of mind, enabling you to enjoy your trip knowing that your affairs are in order, and your loved ones will be taken care of in accordance with your current wishes.
Relatedly, it is essential to have a living will that outlines your requests concerning medical treatment, resuscitation, and end-of-life care in the event that you are unable to effectively communicate your preferences as a result of illness, mental impairment, or physical incapacity.
Whether you’re planning to explore South Africa’s terrain or venturing abroad, having an up-to-date will that accurately reflects your prevailing circumstances and gives effect to your wishes, is paramount.
For further information or to schedule an appointment, contact our estate planning specialists at estates@stbb.co.za.
For a comprehensive overview of why it is imperative to have a will, read our earlier article.
