04/03/2021
The pandemic brings to the forefront a need to prepare for unexpected loss. It also provides needed time to get financial documents in order. The attached Kiplinger.com article is well written, and reminds us to have our affairs in order. Perhaps you might have time to check these documents off your list! Schedule an appointment with Attorney Mark Paullin to discuss your estate plan to ensure your documents are up to date and well prepared for your family. Kiplinger advises that you have professionally prepared at least these four important documents:
Last will and testament: A comprehensive outline of all your assets and your wishes for how they’re to be handled after your death. It should also include details on how to handle your digital assets inventory and guardianship designations, if you have dependents.
Durable power of attorney: Gives a person of your choosing the authority to manage your finances if you become incapacitated. (Some financial institutions may require you to use their own forms or meet certain additional conditions.)
Health care proxy: Allows your spouse or other selected family member to view your health records and make medical decisions, such as whether to accept blood transfusions or life support, on your behalf.
Digital assets inventory: A complete collection of your online accounts, electronic files, and physical computers and other devices, along with usernames, passwords, security question answers and any other information necessary to access each digital asset.
Here’s how to prepare for the worst in this terrible, horrible, no good, very bad year.