It’s now October 2020, at least seven months since Covid-19 struck (or at least since the quarantines began). And despite which side you believe, and whether you are for or against masks, and who you think will be the better choice to lead come November voting, the truth is that our idea of safety and security, both physically and financially for our family and our loved ones, have changed. Covid has made us all consider how frail life can be, and how our expectations can change at a moment's notice.
Maybe you have already done some estate planning, maybe it was 5 years ago or 20 years ago. Or maybe that has been something that you intended to get to but still have not. We are now hearing stories of people being laid up in hospitals, hopefully recuperating from this unknown, invisible virus that has taken the world by surprise. Even worse we are hearing about, and may even know, someone who has been infected or even tragically passed away. We don’t know when “normal” will return, or if this is in fact a “new normal”.
Bottom line...we all should be thinking of our estate planning needs, or those of our family members, in these uncertain times. It is often a serious medical condition or sudden passing that makes people realize the importance of having a plan in place. It also makes us realize that we may not know what we need to know, or even that we are completely at a loss as to what to do and how to get started. Writing your estate plan is not a fun thing to do, but it is important. Now is the perfect time to get your plan in place!
THINGS TO CONSIDER:
Do the family members know what assets there are and where things are located?
Does anyone have access and authority to take steps to make decisions for a loved one that is ill or incapacitated? Financially? For healthcare decisions?
Has anyone been given authority to act in the event of a death? How will things be collected, sold, distributed?
Will there be conflict amongst the family?
Are the family members with disabilities or special needs that need to have a plan in place for their care?
These are just some of the questions that people need to consider and they are hard questions. Often they are questions that we do not want to face. Sometimes we have to face them unexpectedly, and we don’t know the answers. Many times families are left in a lurch, dealing with piles of mail and paperwork to figure out what assets there are, what bills needs to be paid, and what needs to be done to settle an estate.
THIS IS A SCARY TIME, BUT WE ARE NOT HERE TO SCARE YOU…WE WANT TO HELP!
While many people are staying home to social distance, we are hard at work continuing to help our clients get their estate plans established so they can have peace of mind now and for the future.
Whether it is in person, in your home, by phone or by video chat, we DO have the ability to get you started. Don’t wait another day until it is too late and your family is stuck sifting through papers and dealing with a long drawn out probate court proceeding because there was no plan.
WHAT IS AN ESTATE PLAN:
Generally speaking it is a Will Plan or a Trust Plan that will lay out who you are, who your family is, who is authorized to act if you are incapacitated or pass away, and also how you want your assets distributed. For the most part, families typically require a Trust Plan these days, as a Will does not allow a lot of flexibility or contingency planning. But all that can be discussed in your consultation. We also make sure that your assets are properly titled to be sure that the family will not be stuck in a frustrating and costly probate proceeding. This includes a Durable Financial Power of Attorney a Healthcare Power of Attorney and Living Will, and all the funding documents to properly title your assets.
WHAT CAN YOU DO?
1. CALL US NOW FOR A FREE CONSULTATION – EITHER BY PHONE, VIDEO CHAT OR EVEN IN PERSON (our offices are frequented only by a few staff and are sanitized daily). Our consultations are FREE and NO OBLIGATION.
To set up a consultation call us at our main office 417-520-7586 or find us on Lawyers.com or Facebook to email us.
We will send you a Welcome Packet of information to help you prepare for the meeting.
2. HAVE YOUR CONSULTATION TO WORK OUT YOUR PREFERRED ESTATE PLAN.
3. RECEIVE DRAFTS FOR YOUR REVIEW. It typically takes about 3-4 weeks to get drafts to you so you may review all documents prior to signing.
4. SIGN YOUR ESTATE PLAN. Upon review of your drafts we will schedule a final signing meeting to sign, witness and notarize your documents. Now you can sit back and have that peace of mind that your plan is in place no matter what happens.
FOR MORE INFORMATION, REGISTER FOR A FREE CONSULTATION. We will discuss basic estate planning options, wills v. trusts, how to deal with family conflicts, and all you need to know about setting up an estate plan. Call our office at 417-520-7586 to schedule. We have Joplin, Springfield and Branson locations.