We understand that many of our clients are concerned about the new coronavirus or “COVID-19” outbreak. Although there may be many cases in the United States, there is no reason to panic! COVID-19 is another type of respiratory virus much like the seasonal flu or influenza. Seasonal flu occurs in the United States and around the world every year. While large numbers can sound scary, the CDC estimates that there have been between 32 million and 45 million flu cases in the U.S. this flu season, a relatively typical year. Here’s a link to the CDC’s recommendations regarding prevention: CDC.
Most importantly, now is the time to make sure you are protected if you are quarantined or if you get sick!
You will rest easier if your basic estate planning is done. Of course, after you take these simple steps, then you can consider a more thorough consideration of your estate plan, like a trust or will, beneficiary designations, etc.
But everyone should have these three basic documents, regardless of their wealth or health:
You should have a Power of Attorney for property. This would allow your agent to pay your bills and make other time-sensitive decisions during a period of your incapacity.
You should have a healthcare power of attorney, also called a Health Care Surrogacy. This would allow your agent to make medical decisions for you (in consultation with your physicians) if you were unable to make those decisions for yourself.
Finally, you should have a HIPAA power which authorizes those you designate to access your protected health information.
Call me if you are missing any of these documents and I will take care of you ASAP.t im