Coronavirus fears and the sudden need to self-quarantine provide time for some self-reflection. For many, it’s an eye-opening experience on just how unprepared we are for changes in our lives. For others, it offers insights into how those around us manage the emotional, physical, and financial elements of a crisis. Have you had any estate planning thoughts amid Coronavirus fears? Here are a few that our clients have shared with us.
1 – The Need to Be Prepared
Life gets busy and we all tend to procrastinate on difficult tasks until the last possible moment. We always think we have more time to plan. Unfortunately, Coronavirus has shown us that things can happen quickly and unexpectedly.
If you weren’t the type to stock up on toilet paper and non-perishable foods, you might be hurting a bit right now. Those who planned ahead are self-quarantining more comfortably,…while the rest are hurriedly checking stores for restocked items. The feeling of unpreparedness should lead you to get other things in your life in order, such as your estate plan! As we said, things can happen unexpectedly.
2 – People’s Reactions Aren’t Quite What You’d Expect
Another surprising revelation is seeing how those around you handle Coronavirus challenges. In your estate plan, you must select someone to manage your estate (as a personal representative/executor) and care for your children (as a guardian). Your decision is often based on what you know about them and how they might handle different scenarios in life. How they are managing safety precautions, self-quarantine, lack of work, and financial hardships, and explaining the situation to their children can be enlightening. Does any of this influence your estate planning decisions?
What Are Your Estate Planning Thoughts Amid Coronavirus Fears?
Although most law offices, including ours, is physically closed, we are still working! Our Massachusetts estate planning attorneys are working remotely and are ready to assist you. Self-quarantine may be the perfect opportunity, giving you the time to finally get this task done. Contact our team to share your thoughts amid Coronavirus fears. If you don’t already have a plan, we can prepare one for you. If you have a plan, we can help you update it. Whether you’ve had previous thoughts that you need to get finalized or the situation has prompted you to change your feelings on certain matters, we’re here to help. Contact us anytime.