The coronavirus pandemic has done more than just smash the U.S. economy and put our citizens at risk from the deadly disease it causes, COVID-19. It also closed courthouses and law firms around the country — which put people at risk for innumerable other reasons, ranging from personal injury and crimes gone unnoticed to incomplete planning for the future. When will our estate planning lawyers be back to the office? The answer is soon!
A few months ago, we were forced to transfer most daily operations and redundant tasks to automated systems. More important tasks were sent to our best lawyers, who were still working from home using high-speed internet to perform Zoom conference calls via video. Many of you called wondering when we would be open for business again.
Thankfully, most states are reducing the number of restrictions placed on small businesses. That means we should be up and running at half-capacity in a few weeks. The firm should be back to full capacity within three months, barring any unforeseen spikes in the number of coronavirus cases due to recent events like the national protests.
That is why this is the perfect time to consider your future, as uncertain as it seems. Do you have a last will and testament already written and signed? Have you assigned power of attorney for financial and medical decisions to a trusted individual? Now is the time to think about making these decisions, even if you are young and healthy.
Wealthier clients may want to consider amending estate plans involving large sums of invested money, especially those involving mutual funds or trusts set aside for specific beneficiaries. The stock market has been extremely unpredictable throughout this crisis, but certain stocks remain reliable. It could be the right time to reallocate funds where they are safest.
Contact an estate planning lawyer to address any concerns you might have about the near-future (or far-future) right now!