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The Impact of COVID-19 on Estate Planning: What You Need to Know

The COVID-19 pandemic has had a significant impact on estate planning. Many people have died from the virus, and others have been left with serious health problems. This has led to an increased demand for estate planning services.

There are a number of reasons why it is important to have an estate plan in place, even more so during a pandemic. An estate plan can help you:

  • Ensure that your assets are distributed according to your wishes.

  • Appoint someone to make decisions on your behalf if you become incapacitated.

  • Protect your assets from creditors and lawsuits.

  • Save on estate taxes.

If you do not have an estate plan in place, now is the time to create one. A well-drafted estate plan can provide peace of mind and give you peace of mind knowing that your loved ones will be taken care of.

Here are some of the specific impacts of COVID-19 on estate planning:

  • Increased demand for estate planning services: As mentioned above, the COVID-19 pandemic has led to an increased demand for estate planning services. This is because many people have died from the virus, and others have been left with serious health problems. These people may not have had an estate plan in place, or their existing plan may no longer be adequate.

  • Changes in the law: The COVID-19 pandemic has also led to changes in the law, which can impact estate planning. For example, some states have passed laws that allow for remote notarization of estate planning documents. This can make it easier for people to create or update their estate plans during the pandemic.

  • Increased awareness of the importance of estate planning: The COVID-19 pandemic has also raised awareness of the importance of estate planning. Many people who may not have thought about estate planning before are now realizing the importance of having a plan in place.

If you are considering estate planning, it is important to speak with an experienced attorney. An attorney can help you understand your options and create a plan that is tailored to your specific needs.

At Skipton Law, LLC, we can help you create an estate plan that meets your specific needs. We offer a free consultation, so you can learn more about your options and get started on creating a plan that will protect your assets and your loved ones.

To schedule a consultation, please call us at (303) 555-1212 or visit our website at www.skiptonlaw.com.

We also offer a free workshop on estate planning. The workshop will cover the basics of estate planning, including wills, trusts, powers of attorney, and health care directives. To register for the workshop, please visit our website at www.skiptonlaw.com.

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