To keep you on the right road to carefree rest and relaxation, here are eight steps you should take before you take flight.

It’s that time of year again, when Canadian snowbirds begin preparing for their annual flight south. Part of your preparation is to ensure that your extended vacation is not only enjoyable, but worry free as well. Below are ten steps you should take before you start your trek to a winter of carefree rest and relaxation.

1. Purchase health insurance – Government health insurance plans don’t always offer the same level of coverage that you currently enjoy here when you are traveling outside of Canada. In fact, it’s usually never enough to cover health-care costs that you might incur for example in the U.S.. That’s why it’s so important to purchase adequate out-of-country medical insurance. And the key word is adequate! Making certain the coverage is adequate is more important than finding the least costly alternative.

2. Make certain you have access to your medications – For example, it’s illegal to import drugs into the U.S. unless it’s no more than a three month supply of your personal medication. But a three month supply depending upon the number of medications can be quite cumbersome. It’s much easier to provide your requirements to a legitimate mail-order pharmacy which will ship you your supply right to door of your vacation residence.

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3. Have your mail forwarded by Canada Post - Do not change your address with your financial institutions to your temporary one out of the country. If you do, they will be forced to withhold non-resident withholding tax.

4. Make arrangements to obtain cash while you are away - A US money market account with a Canadian financial institution may provide checking privileges.

5. Set up automatic debit for your bills – By having your bills paid automatically every month, you can be sure you won't fall behind on any household obligations.

6. Check your credit cards as well as debit card - Don’t leave town with a card that doesn’t work properly. Make sure the magnetic stripes on your debit and credit cards are in good shape. It may also be a good idea to contact the credit card company to let them know you are going to be out of the country as they could 'cut-off' access to your card for security (theft protection) purposes if use outside of your normal spending patterns is detected.

7. Protect your investments - Every aspect of your financial life needs to be monitored even when you're far from home. So make certain you have access to current stock market results as well as the telephone numbers of your financial advisors. Don’t leave home without them.

8. Make prior arrangements for RRSP deposits, Income Tax preparation, etc. - If you are going to be out of the country on the deadline day, you may not be able to contribute to your RRSP unless you've made arrangements to do so before leaving. As well, while you may be back in Canada in time for the April 30 deadline for Income Tax submission, remember your accountant needs some lead time to prepare it. If you didn’t put together the necessary documentation prior to leaving, you might find your winter vacation cut short.

This column, written and published by Barrons Financial Advisory Services Inc., is presented as a general source of information only and is not intended as a solicitation to buy or sell investments, nor is it intended to provide professional advice including, without limitation, investment, financial, legal, accounting or tax advice. For more information on this topic or on any other investment or financial matters, please contact a Barrons Financial Advisory Services Consultant.