Indiana Lawyer’s recent article entitled “New urgency: COVID prompts seniors to be more proactive with estate planning” says that, after roughly two years, many Americans appear to finally be emerging from the strictest phases of the pandemic.
As many middle-aged and young people move back into what somewhat resembles a pre-pandemic normalcy, older citizens continue to feel the heavy impact of the virus.
As COVID’s threat to the elderly quickly became apparent, some estate planning attorneys have seen a major increase in older clients scrambling to get their affairs in order.
People aged 65 and older account for nearly 75% of U.S. COVID-related deaths. More often than not, estate planning lawyers say people don’t have their end-of-life and estate planning documents together until it’s too late.
For some, estate planning is almost taboo in the sense that if someone gets their affairs taken care of, older generations tend to think they’ll die the next day. As if, “I’m going to have an impending death sometime soon if I do this.”
However, by doing the estate planning, it helps that stigma to be diminished.
Some say people had to die, in order to motivate people to do what they needed to do.
However, more people seem willing to get up and get an estate plan because of COVID.
Visit an estate planning attorney and set up your plan right away. Ask about the basic documents:
- A will
- Powers of Attorney
- A Living Will
- An Advance Medical Directive; and perhaps
- A Revocable Living Trust
Everyone’s situation is different, so you should sit down with an experienced attorney who can customize an estate plan to your family and situation.
Reference: Indiana Lawyer (May 25, 2022) “New urgency: COVID prompts seniors to be more proactive with estate planning”