How to Get Started on an Estate Plan
The Covid-19 pandemic has increased Americans’ awareness of the need to have a will, living trust or other similar end-of-life document prepared.
The Covid-19 pandemic has increased Americans’ awareness of the need to have a will, living trust or other similar end-of-life document prepared.
This is a great time to get organized with estate planning—it will make things a lot easier for yourself and your loved ones.
If you want loved ones to remember you fondly, tackle your estate planning tasks. Your heirs will thank you for not leaving a legal mess to sort out.
A living will is a legal document that allows you to specify the kind of care you’d like to receive in end-of-life situations. This is different from an advance healthcare directive, though either one can be an important part of an estate plan.
When an individual cannot make important decisions for himself or herself, a judge appoints someone called the conservator or guardian to make decisions. The conservator has the legal backing of the court in all decisions, including finances, medical and personal care.
Talking about death makes most of us uncomfortable, so we don’t plan for it. That’s a big mistake, because if you don’t have an end-of-life plan, your state’s laws decide who gets everything you own.
If you get COVID-19 and struggle to breathe, would you want to be put on a ventilator? Whatever your answer, ask yourself another question: Who would make your wishes clear, if you couldn’t speak for yourself?
To put it bluntly, what if you were in a serious accident or were suddenly rushed to the hospital with COVID-19 symptoms or another life-threatening illness, and you were unable to make health care decisions for yourself?