The year 2020 has been an unprecedented year. COVID-19, or the coronavirus, has up-ended reality for all of us and our lives may never be the same. Face masks and social distancing are now a part of our daily lives, and the pandemic has caused many of us to question whether or not we are prepared for what could happen if we pass away or become unable to handle our own affairs. At Steven Silverman, P.A., we understand these concerns and are here to help.
Ways to Prepare
If you are worried about what could happen to your affairs and those you love if you were to contract COVID-19, rest assured there are steps you can take now to address that apprehension. Take a look at the following to see how you can prepare now. Another resource to assist you is our COVID-19 preparation checklist.
Consider Having Health Care Documents Prepared
If you should become incapacitated by COVID-19 or through any other means, it will be most beneficial to have executed health care documents. You will need to select a person, chosen by you, to make healthcare decisions for you if you are unable to do so for yourself. It is a good idea to talk to this person first to determine their willingness to act in this capacity. By having this person selected by you, you are able to prevent strife between family and friends that otherwise might disagree as to who should make decisions regarding your care.
Execute End of Life Documents
Some of the documents you need to consider include:
- A Will
- A Living Trust
- A Living Will
- A Health Care Power of Attorney
- A Hipaa Form
- A Do Not Resuscitate Order (DNR)
- A Durable Financial Power of Attorney
Review Your Existing Estate Plan Documents
If you have already completed your estate plan, you may think that there is nothing further you need to do at this time. However, if it has been more than two years since your plan was executed, or if any major life event has occurred since you created your plan, it may be time to review your documents. In particular, with COVID-19 rampant, you may want to:
Review Beneficiary Designations: Has something happened that has caused you to reconsider your current beneficiaries? New marriage, divorce, and the birth of a child are all reasons you may wish to change your designations.
Review Living Trust & Health Care Documents Appointees: Make sure you have listed the person that is currently the best choice for managing your affairs should you not be able to do so. Have you split from a former business partner since you first executed these documents? Or divorced your spouse? Either of these could cause you to reconsider your living trust and living will appointees.
Take The First Step
Take the first step in preparing for what will happen if you contract COVID-19. Contact the premier legal team at Steven Silverman, P.A. to schedule a no-obligation, free initial consultation. You can reach us at (305) 666-6111. Together we can plan for you and the future of those you love.