Now is the best time to create or review your estate plan. It is important for every individual over the age of 18 to have an estate plan in place just in case they get sick or become incapacitated in any way.
An estate plan includes not only the important documents that handle your wishes for your assets after your death, but also include Powers of Attorney, which are the living documents that allows you to appoint an agent the handle your health care and financial affairs when you are incapacitated and unable to do so for yourself. By creating an estate plan, you are ensuring that once you have regained your ability to get back to your life, your affairs have been managed according to your wishes.
As businesses begin to reopen, albeit with guidelines for continual social distancing, the risk of illness will remain and may increase and therefore it is imperative that you have your affairs in order. Do not wait until there is a need and not have an estate plan in place forcing the courts to determine what your wishes could or should be.
Now is a perfect time to create or review your estate plan. There are currently additional benefits that one would be wise to take advantage of during this time of uncertainty. One such benefit is that notarizations can be done virtually through audio or video conferencing under an emergency executive order of the Governor. This presents an opportunity that is not likely be available forever. This executive order especially benefits someone who meeting in person might be an issue when the state completely reopens. We currently are advising our clients to have their documents reviewed and notarized now.
Making an estate plan can be overwhelming, however, to care for one’s family and distribute one’s assets per their wishes, taking this action now is vitally important. We here at Piercey & Associates, Ltd. will review your current estate plan for free and advise you on how best to protect yourself and your family during this troubling time. Please take this important step and get in touch with one of our attorneys at Piercey & Associates soon.