Estate Planning

Technology Expands The Way Estate Planning Is Done

We have written before on this website that estate planning shouldn’t be something that is ranked as optional. That has been true for decades, but with a pandemic on our hands worldwide – and specifically in the United States – it should come as no surprise that there has been an uptick in people looking for estate planning services to be prepared if the worst comes to the worst in this new normal of social distancing.

While each state has different rules and regulations when it comes to estate planning.  It is interesting to see some of the changes in a process that can be antiquated at best – and out of touch to the point of cumbersome at worst – that have been bought about by the Coronavirus crisis.

One obvious change is that the ability to create important documents in the estate planning process are now accessed and completed online in many states. While there are still very strict rules and guidance on how this must be done – such as what legal services to go through to have these documents be valid – it is a huge step in a country where many are locked down and the vulnerable are often frightened to leave their houses.

One vital tip here is to be careful about what you do and who you go through to get it done.  If you are going to use online estate planning services be prepared to ask questions about credentials and experience. Scammers love a crisis and the number of Covid-19 related scam artists and schemes will likely increase over the next few months. If you are unsure about the authenticity of a firm or company that is offering estate planning, talk to a family member that you trust as a second pair of eyes and ears on the situation. Be sure to do your research and only go through law firms, banks and trust companies that have your best interests at heart as you make big decisions for your estate.

Creating an estate plan is not fun at the best of times, and these are not the best of times. It is, though, a task that you will feel accomplished and it might just give you one less thing to worry about in a time when anxiety and stress are higher than ever.  Call your advisor and take advantage of these new and improved ways of getting your estate plan completed as soon as possible.

Article By Vital Guidance