Florida Estate Planning During a Global Pandemic
The current situation with COVID-19 has left many Florida residents realizing that it’s more important than ever to ensure they have an estate plan in place. However, how do you go about estate planning in the current climate? No matter whether there’s a global health crisis or not, it’s crucial to get an estate plan in place as soon as possible. Rather than attempt to deal with it on your own, a West Palm Beach estate planning attorney can help you get everything you need in place.
Are You Unable to Leave Your Home?
If you are unable to leave your residence or you are immunocompromised, there may be options for handling your estate planning meeting remotely. Many attorneys are available by email, telephone, and even video conferencing. When you contact our office to schedule an appointment, let us know what your situation is. We will discuss our available options and find a solution to help make sure you aren’t without an estate plan in place.
Review Your Existing Estate Plan
Do you already have an estate plan in place? If so, when was the last time it was updated? It’s always prudent to make sure your estate plan is updated periodically. This can be at specified intervals or when major life events occur. Perhaps you just got married, or you are going through a divorce. You want to make sure your will reflects your current life situation. Don’t accidentally leave someone out of your will or have someone included that shouldn’t be.
Consider a Trust
Maybe you already have a last will and testament prepared. Now is the time to consider what options you have for trusts. Some courts may not be accepting probate filings right now, or only in select circumstances. Probate filings that are accepted may be delayed after limited services for a portion of this year. In the meantime, some of your assets could be frozen, and heirs will not have access to them. Instead, talk to your estate planning attorney about what types of trusts are best suited to your situation.
Some people opt for revocable trusts with a “pour-over” will that provides for funding the revocable trust upon your death.
Review Your Beneficiary Designations
Take the opportunity to also review your beneficiary designations. You may have insurance policies and benefits through your employer that will immediately transfer to the named beneficiary upon your death. Make sure your current beneficiary designations reflect your wishes.
Set Up Health Care Proxies, Powers of Attorney, and Living Wills
Do you have any health care proxies, powers of attorney, or living wills set up? If you get sick and are hospitalized, do others know whether you want life-saving measures? Is there someone who will be looking after your financial and legal affairs? All these estate planning documents are important. If you don’t have any in place, now is the time to make sure you get them set up.
Contact a Florida Estate Planning Attorney
Even if you have an estate plan in place, it’s always a good idea to make sure your documents are updated, and everything is current. If you need assistance with a Florida estate plan, contact the Law Offices of Larry E. Bray, P.A. today to schedule an initial consultation.