Estate Planning in a World of COVID-19
– Helpful Tips from Your Knowledgeable Shreveport Estate Planning Attorney
Never in our history has it been more vital to keep our finances and estate in order. The coronavirus pandemic has left us bewildered and realizing that time is of the essence to make sure our families are cared for after our death. If you don’t have your estate planning in order, now is a perfect time.
Ensure your family can abide by your wishes and take the right steps today. Call upon the help of your Shreveport estate planning attorney. David L. White and his team understand the nuances of the Louisiana legal system and know how to assist you. Make better decisions when you talk with us first.
5 Essential Documents to Have in Place
One thing that the pandemic has taught us is that we should keep “our house in order” and our financial affairs ready. Start here to make certain your family is taken care of in the event of illness or death:
- Will: You should list out who will receive your property at the time of your death. If not, the state will decide who gets what, and it may not match your wishes. This is imperative if you have minor children who will need a legal guardian if both parents are deceased.
- Medical Directives/Living Will: If you should become incapacitated, someone needs to be able to step in and make choices for you. A living will provides instructions to your healthcare team about decisions regarding life support in the event you are terminally ill or in a vegetative state.
- Power of Attorney: You may need help with your finances if you become ill. The power of attorney designates someone you trust to handle your financial affairs for you. No one can represent you if you don’t have a durable power of attorney in place, and the court can choose whoever they want, even if it is someone you wouldn’t pick.
- Trust: You may want to place your property and belongings into a trust that goes into effect at the time of your death. The trust will hold legal title to your assets, and the beneficiaries can receive it after you pass away. Sometimes this helps with the process of probate or succession.
- Beneficiary Designations: While this isn’t a specific document, any life insurance or retirement plans have beneficiaries. You should regularly check your listed beneficiaries and keep them up-to-date.
Establish an Effective Estate Plan with Help from David L. White
Estate planning has never been as critical as during this pandemic. We quickly learned that nothing is as we believe it is but having a plan of action in place makes things easier for all of us. Worry about staying healthy instead of what may happen after you pass. Call upon the services of David L. White. We help families and individuals with estate planning and succession issues. We can also set up a virtual meeting to assist in maintaining social distancing and safety. Give us a call today!
Contact your estate planning attorney in Shreveport to find out more. Give us a call at 318-747-7023.
