Estate Planning During COVID-19
The year 2020 has seen our world turned upside-down as we fight an invisible enemy known as COVID-19 or the coronavirus. COVID-19 is a global concern and residents of the state of Florida are faced with an outbreak of epidemic proportions. Life as we know it has changed and our new reality consists of temperature checks, face masks, and social distancing. While the elderly and persons with compromised immune systems are most vulnerable, no-one is immune to the effects of the virus.
Retaining Control In Uncertain Times
It is the wish of our firm that everyone reading this article remains healthy and safe. However, we also hope that the rapidity with which COVID-19 appeared and wreaked havoc on our lives serves as a reminder of the importance of being prepared for the unexpected. One of the best ways to retain control of what happens to you and the people and possessions you love most is through a well-thought-out estate plan. If you already have an estate plan in place, now is the time to review it and ensure it meets your current needs. If you do not have an existing estate plan, there has been no better time to make your wishes known.
A thorough estate plan utilizes a comprehensive health care advance directive and spells out your desires for what should happen to you and the people and belongings you care for should the unexpected happen. It may consist of the following:
- Pre-Need Guardianship: There are different types of guardianships that can be helpful for different circumstances, but the pre-need guardianship is the most proactive. As the name indicates, it is a guardianship that you can establish before the need arises. Then, should you ever be in a position that you need a guardian, the matter of who that guardian should be has already been decided.
- Living Will: We’ve all heard how COVID-19 attacks the respiratory system and the worst affected individuals must use ventilators for breathing assistance. A living will would ensure that your wishes in regards to life-prolonging treatments and procedures are honored.
- Durable Power of Attorney for Healthcare: A durable power of attorney for healthcare allows you to designate another individual to make healthcare decisions for you in the event you become incapacitated. You are also able to establish parameters in regard to the scope of the appointee’s authority.
- Will: Should the worst happen and you pass away, a will designates how your assets should be distributed. Also, should you have minor children, you may state in your will who their caregiver should be after you are gone.
Let Us Help with Your COVID-19 Estate Planning Needs
COVID-19 has everyone questioning their future. Let the legal team at TEPS LAW, LLC, help you retain as much control as possible in these uncertain times. Contact us today. We have the experience and skill to assist you in successfully documenting your wishes so that you are prepared no matter what the future holds.