COVID-19 has created an environment of uncertainty, and we have just passed the one- year anniversary of our lives now involving various forms of lockdowns, restrictions, and mandates. This pandemic, which seemingly came out of nowhere and resulted in severe and immediate consequences in many cases, has made us all more aware of our own mortality, and has reinforced the idea that no one can ever truly know what is going to happen to them.
Even prior to the pandemic, estate planning was a subject that many people preferred to ignore. Understandably, no one likes to think about the reality of death; however, estate planning can alleviate some of the stresses that surround the reality of mortality, in particular in the uncertainty that these unprecedented times have caused. Estate planning allows a person to actively participate in the administration of their affairs after they have passed on. It allows them to designate a trusted family member or friend to ensure that their tangible and intangible assets are protected and eventually distributed to beneficiaries in a way they would if they were actively involved in the process.
Whether in the event of death or incapacitation caused by deteriorating health, proper estate planning can provide a clear understanding of your wishes and will allow a smooth transition when it is time to address the assets of the estate. Effective and proactive planning of your estate guarantees that your assets, your wishes, and your loved ones will be protected.
If you have any questions about establishing your own estate plan or need help with adjusting or updating an existing plan, please contact our office at any time.
