Wills and Powers of Attorney - COVID-19
With the global pandemic of this unrelenting virus now firmly at our doorstep, many of you are likely wondering about having a will and powers of attorney in place. While most of us are doing our best to follow the advice of the medical health professionals by staying home and practicing social distancing and self-isolation, we can all do our part in flattening the curve of infection.
Just as everything else in our lives has been impacted, estate planning and administration have to be adjusted as well.
While we should all be considering having our wills done (if we don't already have them) or updating our wills if they no longer reflect our current wishes, it would be wise to at least take stock now of how you would like your estate to be divided upon your death, as well as to take an inventory of your assets and debts.
During these unprecedented times, it may make more sense to focus the greater importance on having powers of attorney drafted or updated, especially if you are among the most susceptible or have an underlying health condition.
A power of attorney for property allows the person you appoint to ensure the proper management of your finances and personal property while you are not able to do so. This type of consideration becomes more relevant in these times when individuals are being asked to self-isolate or are being socially responsible and remaining in their homes where they are among the most susceptible or have an underlying health condition.
A power of attorney for personal care is perhaps even more relevant as it would permit the individual attorney you appoint to make decisions when you are not capable of doing so with respect to your health care. You would also want to discuss with your attorney what your wishes and intentions are for end-of-life.
Please do not hesitate to contact me if you should need assistance with your will or powers of attorney. You may do so by sending me an email at mvicente@vicentelaw.com or by phone at 519.946.3125, ext. 13.
I hope you all remain safe and healthy.
Just as everything else in our lives has been impacted, estate planning and administration have to be adjusted as well.
While we should all be considering having our wills done (if we don't already have them) or updating our wills if they no longer reflect our current wishes, it would be wise to at least take stock now of how you would like your estate to be divided upon your death, as well as to take an inventory of your assets and debts.
During these unprecedented times, it may make more sense to focus the greater importance on having powers of attorney drafted or updated, especially if you are among the most susceptible or have an underlying health condition.
A power of attorney for property allows the person you appoint to ensure the proper management of your finances and personal property while you are not able to do so. This type of consideration becomes more relevant in these times when individuals are being asked to self-isolate or are being socially responsible and remaining in their homes where they are among the most susceptible or have an underlying health condition.
A power of attorney for personal care is perhaps even more relevant as it would permit the individual attorney you appoint to make decisions when you are not capable of doing so with respect to your health care. You would also want to discuss with your attorney what your wishes and intentions are for end-of-life.
Please do not hesitate to contact me if you should need assistance with your will or powers of attorney. You may do so by sending me an email at mvicente@vicentelaw.com or by phone at 519.946.3125, ext. 13.
I hope you all remain safe and healthy.
