| So, like many people, after reading about the | | | | bills and receipt money. |
| cruising lifestyle, you have decided to pack it all in | | | | Rule #2 |
| and go sailing. There are many books and | | | | Establish a fully funded working bank account. All |
| magazines available which will tell you of the many | | | | bills are directly debited to this account, especially |
| practical things you must check out before | | | | your credit card, which will probably be what you |
| casting off, but not many dwell on the often | | | | will use most when you are overseas, and all |
| overlooked topic of what happens with your | | | | rents, pensions or other income goes into this |
| financial affairs after you've left the marina. | | | | account. Make sure you have internet access to |
| I recently had a bad experience when trying to | | | | this account so that you can keep track of it |
| access funds from my local New Zealand bank | | | | from an internet cafe when you are on shore. |
| while living in Australia. Firstly the letter from which | | | | (Make sure the cafe has adequate security |
| I was trying to get the contact details only listed | | | | though) |
| a freecall number (useless outside New Zealand) | | | | Rule #3 |
| and a generic email address. It turned out that | | | | Set up also an emergency fund, apart from your |
| both methods involved routing to a call centre in | | | | working account. Things may go wrong - you |
| goodness knows where. I thought I'd get round | | | | may need some critical repairs to your engine, or |
| this by looking up my local bank's number on the | | | | a new mast. You could fall ill and will need to pay |
| online white pages, but guess what, that local | | | | for your treatment. |
| number is re-routed back to the call centre! I had | | | | Rule #3 |
| my local rep's business card, so I thought I'd try | | | | Make a list of all the assets you are leaving |
| that number, which goes straight to her desk, but | | | | behind. Record their serial numbers. Make another |
| she was on holiday, and all I got was her voice | | | | list of all the important people who may need to |
| mail. Of course in the old days (before progress?) | | | | be contacted - your power of attorney, your |
| the person at the next desk would have picked | | | | solicitor, your executor and your financial advisor. |
| up the ringing phone and asked if she could help | | | | You could also have a list of all your passwords |
| me. Anyway the call centre would not patch me | | | | for your various internet dealings, but of course |
| through to my local bank, as they had a | | | | be careful about where you leave it. |
| "customer services manager" who they said could | | | | Rule #4 |
| help me. I inwardly groaned and hung up. | | | | Unfortunately, there is a possibility that you may |
| I tell you this sad story to illustrate the kind of | | | | die on an extended trip, so make sure your will |
| problem which can occur these days. I was in | | | | and life insurance policies are up to date. Check |
| Australia, with a reliable telephone service, but | | | | with your insurance company to see if you are |
| imagine if I was in Easter Island or some other | | | | covered for extended cruising - they may have |
| remote place and needed funds urgently. | | | | an excuse not to pay if you don't. Also your |
| Rule #1 | | | | house insurers will need to know that you are |
| If you are going to be away for any length of | | | | renting out your house. |
| time, give someone you trust or your solicitor an | | | | Do these few things well, and you should have |
| enduring power of attorney. This person then has | | | | most contingencies covered and have peace of |
| the capacity to act as if they were you | | | | mind on your dream voyage. |
| personally, can access all your bank accounts, pay | | | | |