Published on : Wednesday, May 18, 2016
There has been an evident growth in the trend amongst the people, especially amongst those who are planning a foreign trip to make provision for their nearest and dearest ones, as per the solicitors.
One of the specialists at Gorvins Solicitors said that terror attacks and the disappearance of Malaysia Airlines flight 370 in March 2014 have heightened anxiety.
Often travellers are booking a first appointment just a fortnight before they fly, as another legal firm said and that they want to get their will done and dusted before take-off. Some are even having wills written that apply only if they die on holiday.
Some tourists are putting provisions in their will for what should happen if they die abroad, or even on flight itself.
This dramatic trend has increased over the years and one of them specified that their ashes should be scattered on a hill with a view of Palma cathedral or in the holiday town where they have had many happy memories.
Some solicitors also said that while many of their clients have never quite got round to make a will but after booking for foreign trips, they developed a sense of urgency about it.
Some cite a fear of flying as their reason for making the will. Others admit their reasoning is illogical, but still want to make provision for their loved ones in the event of something happening.
What to remember while planning a ‘ Holiday will’
1. Plan ahead. A will takes time to draw up properly so ideally you need to see a solicitor a couple of months before, not weeks or days.
2. Ensure the will is executed before going away (i.e. signed and witnessed). If it is not then it has no effect, even if you have given your instructions to the solicitor.
3. Tell your executors where your will is kept, both where your copy is, and which solicitors have the original.
4. If you do have any specific funeral wishes, make sure your executors know what these are. You can put them in your will, but often a funeral will be arranged by your family before they have even looked at the will, so it is best if you have also made them aware of your wishes verbally.
5. Make sure you have nominated beneficiaries for any pensions or life assurance. These nominations are usually made directly with the relevant provider, and are separate to the wishes set out in your will. Payments of this kind can be very useful for your family as they are often made relatively quickly.
6. Ensure your financial records are in good order. Have a filing system. Some people also keep a spread sheet setting out all their current assets. This makes things easier to locate if the worst does happen.
7. Ideally, you should also put Lasting Powers of Attorney in place, to cover the situation where you are still alive but are unable to deal with your own finances (e.g. being in a coma). Your will does not give your executors any powers whilst you are still alive, so powers of attorney are required to cover this situation.
8. Have travel insurance. The cost of repatriating a body can be huge, and without travel insurance your family could be left with the bill.