Our Coronavirus Estate Planning Emergency Checklist covers the basics for preparations you should make in advance for protection and peace of mind. Here are some additional tips to make sure you and your loved ones are protected and prepared.
1. Get Your Digital Estate in Order
Until recently, there weren’t good guidelines for what happens to your digital assets after you die – the technology was too new. And data privacy laws protected your electronic data from being handed over to someone else for fear of criminal activity. Providers did not want to grant anyone access to your accounts out of fear they would be held liable for any scams or criminal activity committed that you did not authorize. Read our Digital Asset Estate Planning Guidelines.
2. Where Is Your Will?
Do you know where your original health directives, will and trusts are located? Do your executor and heirs? If you become incapacitated or when you die, your will may have very important information about how you want your estate handled – including information about planning your funeral. Too often the deceased’s wishes aren’t known until after the funeral, because no one knew where to find the will. Store your will somewhere safe and accessible, and keep copies where your attorney, executor or other key contact people can find them. Read our article Where Should You Store Your Will?
3. Hold a Family Meeting
If anything should happen to you or a loved one, is your family prepared? Today is a good time to let your family know your wishes, where your important legal documents are stored – and to have them tell you the same information! The #1 threat to estate planning is family conflict – usually because someone wasn’t informed about the deceased person’s wishes. A family meeting – or virtual meeting! – is the best way to prevent panic and problems in case the unwanted happens.
If you have any questions about estate planning during the coronavirus pandemic, or if you would like to schedule a free consultation, please call our office at 630-800-0112.