Estate Planning for Coronavirus (COVID-19):
Providing Comfort During Uncertain Times
We understand that 2020 was unprecedented. Our clients and their loved ones navigated the onset of the Coronavirus (COVID-19) and volatile financial markets. Now, more than ever, we need to focus on our wellbeing and that of our families. As part of this process, you should review your current estate planning documents to ensure that you at least have your basic documents in order.
Three Essential Estate Planning Documents for the Coronavirus Pandemic
- A Will or Revocable Trust A Will ensures that your things will pass to your loved ones. Especially for those with blended families or unmarried couples, assets may not pass as you expect. Revocable trusts can pass your assets similar to Wills, but Trusts can also allow your family to avoid probate altogether.
- Medical Power of Attorney – During a pandemic like the Coronavirus, it is even more important to ensure you and your family will receive the best healthcare. The Medical Power of Attorney will allow you to appoint anyone to make these medical decisions on your behalf if you are unable to do so yourself.
- Statutory Durable Power of Attorney Especially in a time of financial volatility, it is imperative that you appoint someone to make financial decisions on your behalf.
Given the Center for Disease Control’s recommendations for “social distancing,” we are all doing our best to avoid public places and in-person meetings. We have the ability to provide skype meetings, secure electronic transmission of all documents, and online estate document signings (as well as online notary services). To learn more about our online estate planning services, contact our firm at (936) 206-3628.