3 Crucial Estate Planning Reminders during the Pandemic

If estate planning is still on your ‘to-do’ list, now is the time to get it done. With the spike in coronavirus cases, the importance of estate planning has risen.

Even though the vaccines have made their way into many countries, it is still a long way to go until everyone gets vaccinated. In such circumstances, where new strains are emerging while we haven’t gotten control of the previous ones, it is crucial that you get sufficient legal documents ready in case of any unfortunate demise in the family.

To help you through estate planning in the current situation, here are some of the most common tools widely in use among people.

1# Wills

Will is a testament to let the court know about who would receive your assets after your death. If you haven’t created your will in your lifetime, then the court would be the one to decide about your assets.

2# Power of Attorney

The documents about the ‘durable power of attorney’ talk about the individual who has the authority to access your financial accounts, pay bills and deal with insurance carriers along with other financial actions.

The attorney would be appointed after you catch a medical condition that makes you unable to perform such financial tasks by yourself.

3# Transfer-on-Death Deeds

These documents let the creator choose the individual to receive the creator’s home after his/her death. The receiver wouldn’t be required to proceed to court to probate a will.

If you haven’t yet drafted the transfer-on-death deeds, there is a chance that your property won’t pass on to the person you want.

Contact a Knowledgeable Attorney

If you have any queries about the creation of your estate plan such that it meets your goals, fortunately, a knowledgeable estate planning attorney can make that easy for you. Contact Keystone Asset Protection and Estate Planning today and choose the best for yourself.