When people relocate to another country, they are extremely excited about the new possibilities and the fresh start, which is only normal. Under the circumstances it is essential to have an open mind when planning for different situations, especially when a family’s welfare is at stake. A few basic things to keep in mind are the following:
- Keep your asset and life insurance valid until the day of departure, or even thereafter if possible.
- Sometimes migration fails. Do not sell fixed assets such as houses and vehicles in the country you are leaving before you are absolutely certain that you will not be returning soon and will not require such assets in the foreseeable future.
- Make provisions for a last will and testament to be drawn up. Ensure that the testament’s terms are valid for all countries in which the testator holds assets.
- Award guardianship for underage dependants in the case of the parents or current guardians dying. Also ensure that provision is made for the underage children in terms of travel costs in order for them to link up with their guardians in case of such a tragedy.
- Emigrating without having the certainty of a source of income is an extremely big risk and is not recommended at all.
- If the breadwinner is no longer capable of earning an income, or is no longer willing to support the rest of the family, an emergency plan with regards to immediate survival, possible repatriation and the future should be in place. There is no institution which sponsors repatriation.
Migration is a wonderful adventure that can add a lot of new dimensions to one’s life. However, in order to make a success of it, you must keep your feet on the ground, even though your head is in the clouds!
ALSO READ: Think about emigration carefully
