While most of the world is waiting to see how the current coronavirus (COVID-19) pandemic unfolds, people are facing a number of important questions and challenges. From economic uncertainty to health concerns, individuals and families are wondering what they can do to ensure that they weather this pandemic successfully. For many aging individuals, the idea of putting an estate plan in place has become more of a priority, especially when facing very real threats to their health. It may be worth taking some time to explore the importance of creating an estate plan right now, and also why estate planning is important to your life and your future after the pandemic subsides.
Estate Planning is About More Than Just Finances
It’s a common misconception that estate planning is just for wealthy individuals. However, it’s important to note that an estate plan encompasses much more than the allocation of your assets and finances. Other components include your wishes about your healthcare treatment options, designating a trusted individual to care for your children or any dependents, and ensuring that your valued possessions are distributed according to your vision. When you speak to an estate planning attorney, you’ll be able to discuss the specifics of your situation so that you can create a customized plan that’s designed to address your unique goals.
Articulating Your Goals
If you are wondering whether creating an estate plan is something you should consider, it’s helpful to take some time to ask yourself a few questions. For instance, do you have strong feelings about how you’d like your assets to be distributed once you are gone? Do you have minor children, and are you concerned about what will happen to them if you should pass away? Would you like a trusted family member or spouse to have the legal authority to make important medical decisions on your behalf? If your response to any one of these questions is “yes,” it is probably in your best interest to contact an estate planning lawyer to discuss your goals.
Keeping the Future Bright
In these uncertain times, creating an estate plan can help you feel a bit more in control of your situation. By taking steps today to ensure that you and your family are adequately protected, you can feel more comfortable about the future, no matter what it may hold. To learn more about your estate planning options in the Spokane Valley area, reach out to the trusted and compassionate estate planning team at Legacy Law Group by calling (509) 315-8087 today.