To say that the COVID-19 pandemic changed the world is an understatement. With stay-at-home orders and record numbers of people working from home, life away from the public became the norm for many. If, during 2020, you added a new member to your family, then the thought of him/her living in a world where COVID-19 will be the norm might be scary.
Don’t let this worry you. There are many ways you can make this new world safe for your loved one. However, that doesn’t mean you should put your estate planning responsibilities on the backburner. At Fryer and Hansen, our McAllen estate planning lawyers want for your mind to be at ease. One way to accomplish this, now that health is a very serious topic for many, is by drafting a will.
Update Your Will When Necessary
It isn’t uncommon for people to assume that estate plans are a one-and-done deal. However, this is far from the case. You’ll need to adjust your estate plan accordingly as your life changes. This is best done with the help of our McAllen lawyers. You should first consider the following:
- Has your family grown?
- Do you want to include additional family and/or friends in your will?
- What can you tell us about your children’s health?
- Are there any special instructions to be followed for their well-being?
Add a Trust
If you’re unfamiliar with a trust, it’s an arrangement where a third party, or trustee, retains assets on behalf of the beneficiaries of your choosing. This document can organize your inheritances and provide certain benefits:
- Ensuring that your money isn’t needed to pay off debts during the probate process.
- Providing an option to utilize a trust for your child’s education.
Ensure Guardianship for Your Children
What can happen to your children if you, your spouse, or both of you pass? With an estate plan, you can name a guardian him/her/them. This person will oversee every facet of their care.
Contact Our Estate Planning Lawyers in McAllen
At Fryer and Hansen, we want to help you secure a better future for your loved ones after you pass. The best way to do this is with a will, so contact our McAllen estate planning lawyers today to get started on drafting yours.