Unique aspects of the coronavirus pandemic may cause you to re-evaluate some elements of your current estate plan.
Did you know that 70% of adults over the age of 65 are predicted to need some type of long-term care for an average length of three years? While thinking about your future, you’ve likely already planned financially, but have you considered your long-term care options?
Lawyers are being bombarded with requests to write wills, update estate plans and prepare health surrogate or “pull the plug” documents, as people are confronted by the realization that they could be diagnosed with COVID-19 and dead within days.
Estate planning offers tools to establish and maintain effective control over cash, investments and real estate assets during a person’s lifetime and upon death. While wills and beneficiary designations work well to ensure that an estate plan meets the unique needs of the individual establishing the plan, each has its limits.
With the economy slowly reopening and stay-at-home orders expiring, what do those at increased risk need to know to stay safer?
Amid the climate of uncertainty surrounding the coronavirus pandemic that is sweeping the nation, people are grappling with the difficult subject of estate planning … and not taking any chances.