Wes Coulson debuts the second video in the Coronavirus Preparedness Series, discussing where to start with estate planning
Transcript:
What I want to talk about today is, I’m going to talk to the people that are saying, “you know, with the concern about the risk of contracting COVID-19, I want to get something in place or I think my mom should get something in place, and where should we start?” Well, let me offer some practical suggestions there.
One is documents, so things that we can help you with, and second is things to be done on your end.
Document wise, I’m going to suggest that you have three documents in place. One is a will, which even if it’s a simple will, it’s going to let everyone know who is supposed to inherit what from you. who is supposed to be in charge of things, and in our will form we will put things in so that if probate is necessary. we’re going to make that process as painless, quick, and inexpensive as the law will allow it to be. But, there’s every bit of chance that you would be temporarily down from coronavirus without dying, and so the other two documents that you should have in place are powers of attorney. One for property and financial matters, and the other for healthcare matters. Again, those are documents we can produce like the will pretty quickly, and get those in place for you.
On your end, what you also really want to be doing is some things of just organizing things. If somebody is going to be taking over for you, what are they looking for? Where are they going to find it? Lists of assets, lists of incomes, what insurance policies do you have that people should be looking for?
So again, if you can get some basic documents in place, do a little prep work on your end, I think it’s going to be well worth the investment of time and money because you’re going to feel a peace of mind from feeling prepared for what none of us hope is going to happen, but we look at the paper every day and see it’s unfortunately happening to some of us.
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