What Estate Planning Issues Should I Handle During the Coronavirus Pandemic?
June 30, 2020
The California government has released a plan for reopening the state’s economy during the coronavirus pandemic. Currently, the state is opening lower-risk workplaces with adaptations. However, state officials recently reported a massive uptick in positive COVID-19 cases. As a result, many people are choosing to social distance and remain at home. Are you one of those people? If so, then there are ways you can remain proactive during this difficult time. For example, you can begin planning your estate. You can take care of many estate planning issues by creating the following documents.
A Living Trust or Will
Many people in California have died after contracting COVID-19. You should prepare for this possibility by ensuring your assets pass on to your loved ones after your death. There are two primary options for you to choose from. A will dictates what happens to your assets upon death. However, your will does not go into effect until you pass away. Also, your will must enter the expensive and time-consuming probate process. For this reason, our attorneys believe that living trusts are the better option for most people. Either way, make sure that your document reflects your current wishes and family situation. An estate planning attorney at our firm can help you update your documents.
Financial Durable Power of Attorney
Along with creating a living trust or will, you should also name a financial durable power of attorney. This person will take care of your finances in the event you become incapacitated. Creating this document is a no-brainer during the coronavirus pandemic. People from all ages and backgrounds have found themselves incapacitated after contracting the virus. Take this time to settle your affairs before it is too late. Attorney Robert Firth can help you define your financial durable power of attorney as narrowly or broadly as you choose.
Advanced Health Care Directive
Choosing a financial durable power of attorney is important. However, one could argue that creating an advanced health care directive is even more important during the coronavirus pandemic. This document lets you name a person who will make medical decisions on your behalf if you are unable to do so yourself. The State of California has a link to the advanced health care directive form on their website. However, we recommend filling this out with the help of an estate planning attorney. He or she can ensure that your documents align with your wishes.
Contact a California Estate Planning Attorney
Does the coronavirus pandemic have you thinking about getting your affairs in order? If so, then a California estate planning attorney can help. Contact the Law Offices of Robert L. Firth for a free initial consultation. You can also send us a message through our online submission form.
Our office is currently open for in-person appointments. However, we are implementing safety measures due to COVID-19. Additionally, we are holding appointments over the phone or through video conference when needed. Do not hesitate to reach out. Receive answers to your estate planning questions today.