The number of coronavirus cases is still growing, with the U.S. hitting record after record for the number of new coronavirus cases in our country. While it can be morbid to think about, for those who are high-risk individuals, creating an estate plan is one of the important things they can do.
At the law office of Patricia Bloom-McDonald, Attorney at Law, our experienced Massachusetts estate planning attorney empathizes with the anxiety you’re experiencing as a result of the circulating coronavirus, and wants to help you create an estate plan that offers peace of mind. Call today to learn more.
Opportunities of Estate Planning During the Pandemic
While no one likes to think of their own demise–and while the coronavirus has upset and disrupted the lives of many dramatically–there is an opportunity to create an estate plan during the pandemic. Creating an estate plan is one of the best things that you can do to protect your estate and to ensure that your loved ones are provided for. With an estate plan, you can designate to whom you want assets left, you can create clear guidance for how debts should be paid, you can leave items in a trust, you can mitigate or minimize estate taxes, you can name a guardian for any minor children or pets, and you can ensure that there is a plan in place for how your healthcare should be approached should you be unable to communicate your wishes at a later date.
Challenges of Creating an Estate Plan During COVID-19
Of course, there are also some challenges to creating an estate plan, especially during COVID-19. When creating an estate plan, it is critical to have access to and understanding of your full financial picture and financial documents–some of these may be hard to access if things are shut down or you cannot communicate with bankers, your financial representative,
etc. in person.
Another challenge may be meeting with an attorney in order to create the estate plan. At the office of Patricia Bloom-McDonald, Attorney at Law, we can accommodate our clients based on their comfort level. We are more than happy to conduct remote/online/over-the-phone, or in-person meetings at a safe distance with all sanctuary precautions taken, to provide estate
planning services to our clients.
Important Documents to Include in an Estate Plan
Because each person’s situation is different, we may recommend estate planning tools and documents for some of our clients that we wouldn’t necessarily recommend for others. In general, though, important things to include in an estate include:
●A last will and testament (will);
●A Health Care Proxy with advance directives with Living Will preferences indicated; and
●Durable Powers of attorney for financial decisions.
In addition to the above, it may also make sense to create a trust.
Call an Our Massachusetts Estate Planning Attorney Today
We know that for many people living throughout Massachusetts, coronavirus may have sparked thoughts about the future–some of them very scary. Patricia Bloom-McDonald, Attorney at Law, an estate planning attorney knows what you’re going through and can help. Call today for a consultation about your options for creating an estate plan and how to get started.