The Importance of Updating Your Estate Plan During the COVID-19 Pandemic

It’s safe to say that things have been far from normal over the last few months and will remain so for some time to come. At a time when we’re constantly reminded of the importance of sanitation, mask-wearing, and social distancing, it’s just as important to be on top of your estate planning needs. By making sure yours is up to date, your loved ones will avoid some potential headaches after your passing. 

It Isn’t Too Late to Have a Talk

Starting a discussion with your loved ones about what will happen after you’re gone is no walk in the park. However, bringing the topic to the table can open up productive discussions with your spouse and kids. Share the goals you have in mind with your estate and help your family understand where your decision is coming from. Remember, this is particularly important if you plan to form trusts.

Review Your Plan

If you created a will, when was the last time you looked at it? We’re betting that, since then, you’ve purchased many new personal belongings that you’d like to pass onto your family and friends. This is the perfect time to review your will, trusts, and any other estate planning documents you drafted. While doing this, consider:

  • Updating your list of beneficiaries
  • Listing a personal representative to oversee how your belongings will be split after your passing
  • Listing additional children
  • Assigning a guardian to care for your children

Your Documents

Do your friends and family have quick and easy access to your estate planning documents? If you’re unsure, then be proactive. Make sure your attorneys, trustees, personal representatives, and any other fiduciaries know where you keep your documents. You could also provide them with copies if you feel comfortable doing so.

Our McAllen Estate Planning Lawyers Are Ready to Help!

At Fryer and Hansen, we can help you draft an estate plan that’s to your liking. Plan for your future today with our estate planning lawyers in McAllen by setting up an appointment.

Leave a Reply

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>