As we approach the second anniversary in our struggle with Coronavirus, it is evident that we must learn to live with it if we are going to move on with our lives. When it comes to our financial lives, there are certain things we should do to be prepared in this age of Coronavirus. Never has it been more evident that our lives can change in an instance.
If you become ill and cannot tend to your own health and financial affairs, being well organized is a first step. Then, having up to date legal documents is of critical importance. Documents such as Healthcare Directives and a Healthcare Power of Attorney help your family to carryout your wishes if you are unable to communicate. A Financial Power of Attorney will enable the person you name to pay your bills and file your taxes as well as take care of your investments and real estate. A will and revocable living trust are important estate planning documents that need to be kept up-to-date.
Here is an article, “7 Estate Planning Things You must do in time of Coronavirus". You may find it helpful in evaluating your own level of preparedness when it comes to your estate plan.
If you have any questions, don’t hesitate to call or email. We are happy to answer questions and help you evaluate your current estate plan.