Estate Planning During a Pandemic

As many have experienced, trying to effectively create an estate plan while dealing with terminal illness is very difficult emotionally and logistically.

This has been particularly true during a pandemic in which we are often restricted from close physical contact with others, yet estate

planning documents require original signatures and witnesses. In addition to the issues with the execution of documents, the uncertainty we have all experienced has made the need for advanced and exhaustive estate planning that anticipates a vast array of possible situations so much more apparent. For instance, sometimes the person selected as the decision maker passes away first, so it is necessary to prepare for this possibility in advance. The opportunity to engage in last minute planning may not always exist.

Poor planning often results in expensive administration or litigation – not to mention estate plans that do not benefit those whom we intended. Leaving our loved ones to navigate our financial affairs without any plan – or even worse, poorly prepared or outdated estate plans – can result in avoidable costs, distress and difficult family conflict. On the other hand, having a clear and efficient estate plan in place is a great act of love and can make a difficult situation much easier for those we leave to handle our affairs. If 2020 has taught us anything, it is to expect the unexpected. Preparing a proper estate plan is like buying insurance: you hope it’s not needed anytime soon, but you can rest easy knowing it is in place. If you would like to discuss your estate plan with our office, please feel free to call 201-447-2800 to schedule a free consultation.

Editor’s Note: This article was submitted by Marize Helmy, Esq, The Manna Helmy Law Group (Formerly Michael A. Manna & Associates)