Corona Virus and your Estate Plan
Hopefully your health has not been directly affected by the Corona Virus. Hopefully you don't know anyone who has experienced the health issues that Corona virus brings (or its long term effects) and, my sincerest condolences if you have experienced the passing of a friend or relative at the hands of Covid 19. The disease has caused a worldwide pandemic unlike anything we have ever experienced. The speed at which this virus spread all over the world is astonishing and the different demographics of people affected is surprising.
This is another reason it is important that you prepare for the future by planning for your estate. Since we are still in the first stages of the pandemic here in the United States and no vaccine has emerged yet, it is unknown whether or not the virus will get to you and what can happen if it does. Without praying on your fears, we are here to help you and your family members have some piece of mind by doing our best to make sure you are prepared.
First – Take care of yourself and your family
Wash your hands, wear a mask, use sanitizer on surfaces, keep your environment clean, avoid crowds, keep a distance of six feet between you and others, and stay home if possible. This helps slow the spread of the virus and prevents overwhelming our medical system. Be aware of the following symptoms:
o Difficulty breathing
At the first sign of these symptoms seek medical attention.
Second - Plan ahead.
Execute a Power of Attorney for Property - Contracting corona virus means that you and your family will be isolated from people to protect them from getting infected. Coming in contact with a person who has tested positive, also means you and your family will also be required to isolate yourselves for at least 14 days. This means no contact with anyone for the 14 days period. As such, it is necessary for you to think about who will help to take care of your bills or handle your business and financial transactions. You need a Power of Attorney to appoint someone to handle important matters on your behalf while you are quarantined. The time to get a Power of Attorney is now.
Execute a Power of Attorney for Healthcare- a person affected by the corona virus may require a medical treatment at any time. Normally, a patient will be able to make decisions for themselves which will be respected by health providers.
However, there are emergency situations where a patient may not be able to make decisions for themself so the patient would need someone else to speak and act for them. In this situation, a Power of Attorney for Healthcare will be required. This document enables the person appointed to legally make health decisions for the patient they do not have the capacity to do so.
Right now it is necessary to get prepared because the corona virus can move really fast. It is important to have a close friend or family make decisions for you when you are not able to. The Power of Attorney for Healthcare will allow this person to have access to your health records and recommend the care best for you.
Plan your estate, protect your family- Scientists all over the world are working day and night to come to terms with this disease and find a solution to the problem but nobody knows how long it would take to find a vaccine or a cure. We also don't know all of the long term effects of the virus. Talk to an estate planning attorney to help you prepare an estate plan including the above Powers of Attorney to protect your children and family. Please call and speak with us for your estate planning needs.