You worked with an estate planning attorney in Rancho Santa Fe before. Together, you established an estate plan. You put everything in order. Do you think that’s it? Before you fall into a false sense of security, realize that estate plans need some updating from time to time. That is because things change, and you should tailor your estate plan with these changes.
If there is a “perfect” time to visit your estate planning attorney, Rancho Santa Fe, that time is now. There are huge things that are happening today – both the unprecedented and the expected – that may affect you on a personal level.
Below are two compelling reasons why you should visit your estate planning attorney today.
The COVID-19 pandemic
No one probably had imagined that a single case of COVID-19 in China could spread throughout the globe – and spread fast. In the US alone, the number of deaths has breached 150,000 individuals. And yet, we still need to get a glimpse of the light at the end of the tunnel.
COVID-19 is a threat to everybody’s health. Thus, it makes sense to visit your attorney today to re-evaluate your estate plan. You should include COVID-19 medication in your estate plan. Apart from that, there are other emerging issues that you need to tackle head-on, including tax liability reduction.
The emergence of digital assets
More and more people are going digital, particularly when making purchases for daily needs. As you are likely to use online platforms more often, it makes sense that you include digital assets to your estate plan. But even more so when you are managing online businesses and other forms of digital investments. Digital information, including personal logins, banking, stock market, cryptocurrency account details, should be included in your estate plan.
Remember, the best gift you can give to your loved ones is something that can last a lifetime. That means, making it sure they are going to be okay, in case of your death. Or, when you become physically challenged due to an illness.
If you are in the San Diego area, work with an expert estate planning attorney, Rancho Santa Fe.
Call today at (858) 558-1191 for inquiries.