Staying Home During the Coronavirus Outbreak? Time to Plan Your Estate!

State mandates and guidelines have many staying at home during the coronavirus outbreak. These regulations have shut down many local businesses and public areas. This means that most Colorado residents are finding themselves with spare time. One way to remain productive during this time is to take another look at your estate plan, or to start planning one altogether. Since recent data indicates a decline in estate planning overall, now is as good a time as ever to get started. Fortunately, legal services are essential services in Colorado. This means a Centennial estate planning lawyer from our firm is available to help you at this time.

Estate Planning as a Productive Use of Time During the Stay in Place Order

As per the Stay in Place order, critical businesses are those businesses that provide essential services. These businesses are exempt from the Stay in Place order, although they must practice strict social distancing while in operation. On the list of critical business are professional legal services. This means that individuals can still conduct their necessary legal affairs at this time.

One legal matter that many should consider attending to involves preparing for the future of your estate. There are a couple of good reasons to consider this while you have free time. First, estate planning is becoming less prevalent overall. Among older and middle-aged adults, estate planning has dropped by a significant amount since last year. While planning your estate is a good idea at any age, it is especially important for older generations. Passing away without a will or trust in place means leaving the fate of your property and assets up to the local courts.

At the same time, the COVID-19 outbreak has thrown us into a state of uncertainty about the future. Unfortunately, the coronavirus has already claimed the lives of numerous Coloradans. Of these deaths, the majority consists of middle-aged and elderly people. It is important to note that due to age, this demographic is the most likely to have acquired larger estates than younger generations. At the same time, they are also more likely than other age groups to have more dependents that they support. When taken together, these facts should prompt considerations about one’s estate planning needs. Creating certain documents like a medical power of attorney or an advanced healthcare directive may be useful during this time.

Contact a Centennial Estate Planning Lawyer to Learn More About Our Services

Staying at home during the coronavirus outbreak need not be an unproductive affair. Drafting or revising your estate planning documents is both a productive and valuable way to spend your free time while Colorado is on lockdown. Of course, doing so need not compromise your safety. Skipton Law, LLC is making accommodations to satisfy social distancing guidelines in order to protect our clients and staff members. If you would like more information on estate planning, or would like to get started on the drafting process, we can conduct business in large part over the phone. To contact our Centennial estate planning lawyers, give us a call at (720) 770-3880.

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