As an estate planning attorney, I frequently hear people tell me that they put off their estate planning because they don't have time to address it. Now, however, with the COVID-19 pandemic, many people do have more free time, so why not use this time to get your affairs in order? It is advisable that every person have some level of estate planning in place. If you already have estate planning documents in place, good for you! Now might be a good time to review the documents to make sure they accurately reflect your wishes and that current tax laws are taken into consideration. Below is a brief summary of the basic documents you should have in place.
- Will or a Trust. These documents will ensure that your assets pass to your intended beneficiaries. The Moore Corbett estate planning team can help determine which document is right for you, as it will depend on your particular circumstances.
- Healthcare Power of Attorney. This document names the person who you want to make healthcare decisions for you in the event you are unable to make these decisions yourself. This document can apply even if you are temporarily incapacitated.
- Living Will. This document states your intention that you do not want to be kept alive by artificial means at the end of your life.
- Financial Power of Attorney. This document names the person you authorize to control your finances. This document can be customized to give authority over whatever aspect of your finances you wish to indicate. You can choose for this document to take effect immediately, or upon a later date (when you become incapacitated, for example).
Contact the estate planning attorneys at Moore Corbett today to discuss your estate planning options. Moore Corbett can talk to you over the telephone, or meet with you virtually (using Zoom or Facetime, for example) to discuss. In addition, due to Governor Reynold's Emergency Declaration, there are options available to execute these documents without having to meet in person in order to avoid personal contact. Feel free to either call or email us to discuss.
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