In the COVID-19 era, many families are feeling uncertainty more acutely than ever before. We’re anxious about our health. We’re scared about our financial circumstances. We’re unclear on what the future holds for schools, houses of worship, and small businesses. We’re not just concerned for ourselves, but for our families, too.
Estate planning doesn’t remove uncertainty, but it can help to mitigate it. It can serve as a powerful source of comfort and protection, both for you and for your family. An estate planning law firm can help you realize these benefits.
Here are just a few of the ways in which an estate planning lawyer can provide peace of mind to you and your loved ones.
1) Estate planning can help you prepare for unexpected illness or accidents.
If there’s one thing the COVID-19 pandemic has brought home, it’s that our health isn’t as rock-solid as we might have thought. The virus can impact anyone, regardless of age or demographics. And even beyond coronavirus, there are countless ways in which your health could be suddenly and unexpectedly thrown into jeopardy, from infectious diseases through simple accidents.
Coping with this uncertainty is an acute estate planning need… and indeed, there are a number of ways to mediate this anxiety. Healthcare directives and powers of attorney provide different ways for you to clarify your end-of-life wishes, and to make clear what you want to happen with regard to feeding tubes and life support systems.
Not only will you feel a bit better knowing you’ve made your wishes clear, but your loved ones will have peace of mind from knowing exactly how you want these difficult issues handled.
2) Estate planning can protect the value of your assets.
Another reason to hire an estate planning lawyer is that he or she will be able to create wills, trusts, and other estate planning documents that safeguard the value of your estate.
In an era of economic anxiety, there can be great comfort in knowing that you’ll be able to leave a significant financial legacy for your loved ones; and, that its value won’t be diminished by onerous taxation or by probate.
Indeed, protecting the value of your estate is a major estate planning need, and one we’re pleased to help with at Singh Law Firm.
3) Estate planning allows you to protect your children.
If you’re a parent, then you know what it’s like to worry about your children’s future. For many of us, the pandemic has made those worries more urgently felt than ever before. But here again, working with an estate planning law firm provides a chance to minimize some of the anxiety.
No, an estate plan won’t offer a safeguard against the virus itself, but it will provide you with a legal vehicle for making sure your kids are taken care of, even if something happens to you. Good estate planning process incorporates guardianship for your minor children, as well as life insurance and other ways for providing for your kids monetarily. Again, knowing your kids will be looked after may take some of the edge off your coronavirus anxieties.
The bottom line: Working with an estate planning attorney can help you provide peace of mind for your whole family. In these uncertain times, that’s nothing to take lightly. Do you have questions about how an estate planning law firm can protect your loved ones? If so, we welcome you to contact Singh Law Firm at your next opportunity.