Estate Planning During a Pandemic
Right now — during a pandemic — is actually a great time to do your estate planning! Planning for the future can help ease your anxiety, but only if its done right!
If we have learned anything during the COVID-19 worldwide pandemic, it is that we do not know what the future holds. Uncertainty may create anxiety in your life. Instead of avoiding the unsure future, plan for it. We do not know what tomorrow brings, but we can prepare by having proper estate planning, including last will and testaments, living wills, trusts, and powers-of-attorney.
1) Planning will help ease your anxiety.
Planning for the future and feeling like you are taking control of an uncontrollable situation can help ease anxiety. The current worldwide crisis has caused anxiety and panic all over the world. One of the things people are doing to help themselves with peace of mind is to finally do their estate planning. After clients sign their documents, they generally feel like a burden has been lifted.
2) You may not even have to leave your house.
Whether it is with a phone call, Skype, Zoom, or FaceTime, attorneys are still meeting with clients to address any estate planning needs and concerns. Additionally, the state of Kentucky has authorized virtual notarization while we are under a state of an emergency, so document signings are possible without any in-person contact.
3) Documents will be there if needed.
If you fall ill during the pandemic or otherwise, you will have documents in place so loved ones can assist with your finances and health care. That’s why our law firm really stresses the importance of Powers-of-Attorney. Powers-of-Attorney allow you to appoint another person to be your agent for certain purposes. (You can read more about Powers-of-Attorney on our website.)
4) Do your planning but do it the right way.
While we are all being #healthyathome, some may be looking into online estate planning. Many think that this is cheaper. This is a buyer beware and a you-get-what-you-pay-for option. While the idea of doing a fill in the blank form is appealing, it not only will not help address your specific doubts and concerns, it may provide an false sense of security when it turns out to not address your actual needs. Estate planning should be done by an attorney who knows how to not only draft documents, but help you determine what documents you need to meet your needs and achieve your goals. It is not uncommon for DIY online wills to need extra attention, time, money, and court costs when someone passes away. Talk to an estate planning or elder law attorney and make sure your needs are truly met.