Unless you are a spring breaker partying it up, you have probably given your own mortality a once-over or two during these long COVID-19 days.
Though most people who contract COVID-19 experience mild symptoms, it doesn’t hurt to be prepared if you do need to be hospitalized. It can feel scary thinking about getting sick or not being able to make decisions for yourself, but an estate plan is meant to ease your fears. After all, wouldn’t you feel better knowing that the burden of making health and financial decisions will never fall on unprepared family members?
When a family member or other loved one dies, the natural response is to feel overwhelmed. However, there are some very practical and legal matters that need to be attended to ‘immediately, if not sooner.’
The number of global coronavirus cases surpassed 900,000 on Wednesday—with more than 200,000 known infections, and a death toll that has quadrupled over the last week just in the United States. The health implications alone are terrifying enough, not to mention the economic turmoil or the emotional toll of lockdown measures currently affecting three out of four Americans.
It’s been more than six weeks since the threat of COVID-19 became evident on a widespread level, and life changed in an instant. However, while many people today are grappling with issues, like unemployment and slaughtered retirement accounts, seniors have a unique set of concerns on their hands: protecting their health and their finances simultaneously.
When a member of your family dies, you could be left to pick up the financial pieces. Finding all the information you need can be challenging.
The COVID-19 crisis isn’t just costing Americans their freedom and jobs; it’s also forcing millions to contemplate their own mortality.
When a loved one is experiencing cognitive decline, emotional and medical considerations often overshadow the financial planning that needs to happen. This is a potentially costly mistake.
Who will make decisions about your finances and health (maybe even your life) if you get COVID-19?
Does your ability to pass on your wealth to your heirs depend on where you live … and die? Indeed, it does.