As the coronavirus fills our news channels and social media feeds, and as governments, hospitals, and municipalities grapple with how to address the growing crisis, it has become increasingly clear that, for the immediate future, our customary ways of life have been dramatically altered.
One significant change is that we are experiencing less social interaction and we’re making fewer trips outside of our homes or offices. Many of us may find ourselves in a situation where we or our loved ones are required to quarantine or self-isolate.
The significant impact of COVID-19 has undoubtedly left many of us wondering, “What could happen to me, and how could this affect my family and loved ones?” “What if I become seriously ill, or worse?” The stark reality is that it appears many of us will be personally impacted by the coronavirus. It is now more important than ever that each of us has an up-to-date estate plan and that we all have our affairs in order.
Everyone should have an estate plan, especially now
Whether you are young or old, married or single, high health risk or low risk, you should have an estate plan. This has long been true, even before the rise of COVID-19. But it’s especially true now.
A properly constructed estate plan should be centered around a will or trust that identifies your heirs and facilitates an easy administration of your estate. It is an immense benefit to those you leave behind to have memorialized these important decisions and to have created a mechanism for your wishes to be carried out without great expense or conflict.
Equally important are the elements of an estate plan that deal with your potential incapacity. If you end up in the hospital or quarantined, you may not have the ability to manage your affairs, which is why it is critical to have prepared financial and medical powers of attorney in advance. A power of attorney goes into effect if you become incapacitated and allows a trusted individual to make decisions for you and act on your behalf.
Virtual estate planning services
As many businesses close their doors and communities go on lockdown, you may wonder how you can go about getting these important documents in place. Fortunately, technological advances and videoconferencing have made it possible to meet with an estate planning attorney face-to-face using your computer or smart phone. Quite fortuitously, the State of Idaho passed a law in January of this year authorizing the use of virtual notary services via videoconferencing, meaning you can have your documents witnessed and notarized without ever having to step out of your living room.
At Crandall Law Group, we are pleased to now be offering our boutique estate planning services virtually to all clients. So, give yourself some peace of mind in these troubling times by putting your estate plan in order. You can get started today by contacting us to schedule your complimentary (virtual) consultation.
