Estate Planning and COVID-19 - Preparing for the Coronavirus
By now, many people throughout the world are aware of the Coronavirus (COVID-19). It first appeared in Wuhan, China in late 2019, and was first reported to the World Health Organization (WHO) on December 31, 2019. Since that time, it has made its way into the United States, and is the cause of much disruption to the everyday living we’re accustomed to.
COVID-19 is serving as a wake-up call to many people to get their estate plans in order. No matter who you are, it is crucial to know the answer to the following question: who will handle my bills, taxes, and other financial obligations if I become ill or temporarily incapacitated?
Regardless of health or wealth, everyone should have these three basic estate planning documents:
- Property Power of Attorney. This document allows your agent to pay your bills and make other time-sensitive financial decisions during your incapacity.
- Healthcare Power of Attorney. This document allows your agent to work with medical professionals to make health related decisions on your behalf if you were unable to do so.
- HIPAA Form. This form authorizes those you designate to access your protected health information.
Taking simple precautions will allow you to sleep easier and help you weather this and future storms of uncertainty. If you would like to discuss these, or other estate planning documents that are right of you, please contact our offices for a complimentary consultation. Our office is currently not accepting in-person consultations as an abundance of caution. We are happy to consult with you via telephone or video-conference to help ensure your health and safety. Please call our offices at 888-222-1328 or schedule a meeting online by clicking here.
While there is presently no vaccine for COVID-19, the CDC has provided the following recommendations regarding prevention:
- Avoid close contact with people who are sick.
- Avoid touching your eyes, nose, and mouth.
- Stay home when you are sick.
- Cover your cough or sneeze with a tissue, then throw the tissue in the trash.
- Clean and disinfect frequently touched objects and surfaces using a regular household cleaning spray or wipe.
- Wash your hands often with soap and water for at least 20 seconds. If soap and water aren’t available, use alcohol-based hand sanitizer.
Contributed by Morris Hall, PLLC Estate Planning Attorney, William Morgan.
About Morris Hall, PLLC:
Morris Hall, PLLC has focused its legal practice on estate planning for 50 years. Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, power of attorneys, business planning, succession planning, legacy planning, charitable gifting and other estate planning matters.
Morris Hall, PLLC
Offices in AZ and NM 888.222.1328