Before you travel: Why updating your personal details matters

Last updated on 16th April, 2025 at 12:11 pm

With the holidays just around the corner, many of us are planning a well-deserved break. Whether you’re heading off on an international adventure or enjoying local getaways, it’s important to prepare for more than just your itinerary. Life is unpredictable, and making sure your personal and financial affairs are in order can make a big difference for your loved ones if the unexpected happens.

Key things to review before you leave

To protect your family from avoidable stress or financial setbacks, take a moment to update these important documents and details:

• Your beneficiary and guardian nominations
• Your insurance policies
• Your estate planning documents (like your will and trust documents)

Why keeping your beneficiaries updated matters

If your beneficiary details are outdated or missing, the payout from your policies could be delayed – or worse, paid into your estate and used to settle debts. That means your loved ones might not receive the support you intended for them, at a time when they need it most. To avoid this, make sure your beneficiary information is current and reflects your latest wishes.

What if your beneficiaries can’t manage the funds?

If you’ve nominated a minor or someone who isn’t able to manage money independently, consider setting up a trust to protect and manage any funds on their behalf. A trust ensures the money is used according to your instructions and can provide long-term security for those who need it most. Speak with your financial planner or attorney to find the right structure and terms for you.

A little planning goes a long way

Before you set off on your holiday, take a few minutes to check that everything is up to date. It’s a small task that can give you big peace of mind, knowing your family will be taken care of – even if you’re not around to do it yourself.

For more guidance, visit the Financial Planning section on the Sanlam website.