As the Coronavirus continues to spread, we’re all taking as many precautions as we can. If you are part of the population who is at risk for contracting a serious case of COVID-19, here are three legal tips to make sure you and your family are prepared and protected:
Make Sure Your POA and AMD Are Up to Date:
In the event that you fall seriously ill, your family or friends may need to be able to make financial or medical decisions for you. POA stands for financial Power of Attorney, and allows someone of your choosing to legally access your finances to pay bills or make any other necessary financial exchanges for you. An AMD on the other hand, is a document that gives someone else the authority to make medical decisions for you if you are incapacitated.
Without both of these documents, your family and friends may find it difficult or even impossible to take care of you if you get sick.
If you are having trouble deciding who to name as an agent under a Financial Power of Attorney or Advance Medical Directive, check out our article, “Who Should I Choose as my Agent” here.
Update or Create Your Estate Guide and Inventory:
An Estate Guide and Inventory is a document which lists necessary information about your life; everything from your assets and their location to your online passwords and account logins. Its purpose is to make things easier if someone else needs to step in and manage your life for a time.
If you haven’t already created an Estate Guide and Inventory, now is a great time to do so, and if you’ve already put one together, now would be a great time to make sure it’s updated and accurate.
Communicate With Your Loved Ones:
Once you’ve prepared the important documents and have organized your estate, be sure you tell your loved ones where you are storing that critical information. At least one or two key people need to know where these documents are in case of an emergency.
While we don’t believe now is a time to panic, we do think it’s a time to be prepared. If you would like more information about any of these documents or estate planning in general, please fell free to check out the resources on our website.
Some of you may feel uncomfortable leaving your home at this time. We completely understand. If you are immunocompromised or at higher risk for illness, please let us know and we can set up consultations over the phone or via a video conference.
