Four Property Planning Reminders Throughout the COVID-19 Spike – New York Property Planning Attorney Weblog – Dec 17, 2020

Estate planning doesn’t always appear on people’s jobs. However, living through the coronavirus pandemic, as well as approaching the second wave of the COVID-19 pandemic, should change the urgency with which people are approaching estate planning. new York It currently has the fifth highest number of COVID-19 cases among states with more than 650,000 confirmed cases. Inevitably, during the pandemic, some families will not find they lack adequate legal documentation until a loved one dies. To avoid costly legal proceedings, remember that estate planning is one of the best ways to prepare for the unexpected. This article describes some of the most common tools you can use to help you consider which legal documents to include in your estate plan.

# 1 – wills

A last will and will will let the court know who you would like to receive after your death. This document also tells the court who you want to hold responsible for getting your bills paid and the assets transferred to the right people. Unless you make a will and have not established other ways of dealing with your assets after your death, your belongings are likely not to be given to the people you want. Instead, courts often intervene and decide who should receive these assets.

# 2 – Permanent Power of Attorney

These documents allow you to designate someone to access your financial accounts, pay bills, talk to insurance carriers, and take other financial action when you are unable to do so due to illness. When you lack permanent power of attorney and something happens to you, your loved ones are in the awkward position of finding a lawyer and going to court so your family can control your finances.

Are easily related medical power of attorney Documents that enable the author to select a person to make medical decisions for an incapacitated person. If you lack medical authority, someone you don’t want may be making medical decisions for you.

# 3 – Transfer-on-Death Acts

With these deeds, the Creator can choose who will receive the title of the person’s house after his death. Death certificates also mean relatives don’t have to go to court to review a will. Otherwise, there is a significant risk that your property will not be given to the desired person. In addition, without the proper deed, mortgage lenders will not speak to these individuals as there is no evidence that the person owns the property.

# 4 – Publication of medical information

You can use these documents to determine who can access your health records when you are unable to. Otherwise, because of HIPAA, healthcare professionals will not be able to provide details to your loved ones. Keep in mind that with the rapid progression of COVID-19, there is a significant chance that you will run out of time to provide such disclosure after entering the hospital. Therefore, it is almost always important to prepare these documents in advance.

Talk to an experienced estate planning attorney

If you have any questions or concerns about how to create an estate plan that will help you achieve your goals, the best way to speak is to speak to a knowledgeable lawyer. Contact Law firm Ettinger today to schedule a free case assessment with a compassionate attorney.

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