The largest state in the country is shutting the doors of all nonessential businesses starting sundae night. As this unprecedented measure is taken in New York to safeguard its residents, it is projected that other states will follow.
Now is the time to get your affairs and estate plan in order.
If you are over 60-you need an estate plan. This virus has the ability to create havoc in individuals over the age of 60- a segment of our population that includes business owners, CEO's and heads of households. The critical question we should all be asking is "what if I get it?". I cannot urge enough to avoid putting this difficult question off.
If you fall in the category of business owner: is your succession plan in place for the ongoing operation of your business. If your business is not an "essential" business during the coronavirus age, what can you do to adjust your business to stay afloat? We are here to help.
If you are the head of household- you need an estate plan. What happens or what plan is in place if you contract coronavirus. If you fall ill, who pays the bills, taxes, makes business decisions, makes medical decisions? At a minimum you need a power of attorney-- and by that I mean you need a health care surrogate and a power of attorney drafted by an attorney not one downloaded from one of the many websites that are usually defective and fail to comply with each states' strict guidances.
Is your life online- you need an estate plan. If you, like most of us (even the baby boomers) transact in the world wide web, you need a plan and someone with access to all of your passwords in the event you fall ill. Please make a list, please let us help you prepare for this pandemic in the most concise and effective way.
An an estate planning attorney, we are here to assist you - virtually - in getting organized over the next weeks as we continue to navigate in uncertainty. Please call us today.
Written by: Liz C. Messianu, Esq.
Liz C. Messianu, Esq.has more than 17 years of experience in the areas of estates, trusts and guardianship matters. Liz leads an active practice group and is well regarded for her sensitive and thorough approach to each matter. Ms. Messianu’s areas of practice concentrate on guardianship, estate and trust administration; estate planning and wealth preservation's for individuals. Ms. Messianu handles all aspects of estate and trust matters, including probate and trust administration, representing beneficiaries in our COURTS, with a strong emphasis on litigation involving probate matters, estates, trusts, and contested guardianship's.