How COVID-19 Affects My Legacy Planning – Should I Revisit My Will?
The COVID-19 pandemic has ushered in a new era for legacy planning, prompting individuals and businesses alike to reconsider the 'what ifs' previously overlooked. As interest in estate planning surges, the effects of COVID-19 on wills and legacy considerations come to the forefront.
Revisiting Legacy Planning in the Age of COVID-19
While insurance companies globally seek government
support, the online-centric shift during the pandemic suggests a prudent need for will updates. The persisting 'all-online' structure may necessitate revisiting your will, ensuring it aligns with potential post-pandemic scenarios.
Impact on Wills
Standard rules for insurance claims remain applicable, but face-to-face interactions have become limited. While the process of liquidating the estate might slow down, having a will reflecting your wishes remains crucial. However, an 'unfairness' issue may arise in asset distribution, especially concerning shares.
Challenges and Solutions for New Wills
Social distancing has disrupted the preparation of new wills, necessitating legal measures. Executive Order 2020-14 allows remote witnessing and notarization with specific requirements to mitigate fraud risks. Online tools like IonClad Family provide solutions, ensuring security and accessibility for family protection and business succession planning.
The IronClad Family in Times of COVID-19
As the timeline for the pandemic's resolution becomes clearer, The IronCladd Family operates online, offering efficient solutions to legacy and estate planning. With secure vaults and planning templates, IonClad Family ensures a comprehensive and accessible approach to family protection and business succession planning.
For personalized assistance or more insights, contact us today, to navigate the complexities of legacy planning in the era of COVID-19.
