Since late last year, Coronavirus (COVID-19) has been steadily making its way to our shores. Now that cases of the virus have been confirmed in the U.S., people and companies are taking significant steps to prevent a pandemic—and the threat of infection has caused stress and fear for many New Yorkers.
Keep Calm and Make a Plan
The best way to make it through this difficult time is with information, not panic. We encourage everyone to get the facts about the Coronavirus from the Centers For Disease Control (CDC) for the most recent updates effective strategies for minimizing the risk of exposure, and what to do if you experience symptoms.
Once you have addressed your risk of exposure, you may wish to create a roadmap for the future by evaluating your estate plan. If you have not already done so, please consider using this time to:
- Choose your trusted representatives. You will have to name an executor or successor trustee to your estate. It is a good idea to provide a list of names in preferential order, just in case someone is unable to serve when called.
- Update your bank accounts. Some of your property may be passed directly to beneficiaries without going through probate using payable-on-death (POD) designations. In most cases, naming a beneficiary is as simple as logging onto your online bank account and providing the person’s contact information.
- Make a plan. An estate plan is not just a last will and testament, but a collection of legal directives expressing a person’s final wishes. It can contain a living trust, advance healthcare directives, and powers of attorney. Our law firm can ensure that your estate plan is complete, legally enforceable, and tailored to your specific needs.
- Review your documents. Even if you have already drafted a last will and testament, it may contain ambiguous language or outdated designations that could force your beneficiaries into court. Documents should be reviewed periodically to make sure they are accurate and represent your current wishes.
Speak with Our NY Estate Planning Attorneys
At Landskind & Ricaforte Law Group, it is our goal to give you peace of mind at every step of the legal process—and that includes prioritizing your health. Once you retain our services, we can minimize exposure risks by discussing your wishes over the phone or through video conferencing, and take all necessary precautions when it is time for you to sign your documents at our office. Contact our Brooklyn estate planning office by calling 718-333-5007 or through our online form to learn how we can help.