Estate planning is more important now than ever. And no, it's not because we will all die from COVID-19. The majority of Americans are going to be fine. But recent events have given us three reasons to get an estate plan in place.
- The pandemic showed us the speed at which our everyday lives can be upended. We never know when or how things will change. We all need to have basic estate planning documents in place for ourselves and our loved ones. These documents are: a will or trust; health care power of attorney; financial durable power of attorney; and a living will. Without these vital documents, a court will decide who will make critical medical and financial decisions for you. Will your family be financially secure if you or your spouse die unexpectedly? For those without estate planning documents, there are looming uncertainties. These uncertainties can be avoided with the proper planning. Preparation is everything.
- The pandemic is teaching us we take too much for granted. We realize more than ever the importance of our family and friends and how wonderful it is to be able to spend time with them. Some of us are unable to be with our loved ones and are staying in touch by phone and video calls. We realize how much we love our vulnerable family members and want to protect them. Many times we take our loved ones and friends for granted. We also take the abundance of material things in our lives for granted. Personally, these past weeks have made me appreciate my family more and realize the vast difference between what I want in terms of material things and what I need. I am thankful to have what I need. I updated my own estate plan last week so my family will have what it needs.
- The pandemic is forcing us to slow down. Instead of spending our days rushing from appointment to appointment, many of us now have more time for self-reflection and to catch up on all the things we have been meaning to do. If you are stuck at home, you have time to reevaluate and retool. Use this time to relax and reinvent yourself. Take up a hobby or learn a language. As one person laughingly told me, this is the first time in history that lying on the couch all day watching TV can actually save lives! It's true. This social distancing time can save lives and protect your family. You can also finally get that estate plan in place you've been thinking about for months.
The decision to get an estate plan for yourself and your loved ones is a no-brainer. If you're ready to get started, there are three easy ways to schedule an appointment: 1) you can fill out the contact form on this page; 2) you can call us at 704.508.4793; or 3) you can schedule your appointment online here.
For more great information about protecting your loved ones with peace of mind estate planning, take a look at our valuable estate planning book and articles. Our materials are full of tips and advice. All materials are written by us and provide detailed North and South Carolina specific information designed to help anyone with estate planning questions. You can download your free copy of our book here.
Photo - Shutterstock