Estate Planning and COVID-19

For so many people at home during this crisis, it means organizing and getting things in order to help ease the thoughts of the helpless feelings generated by health concerns and a volatile economic atmosphere. So as you "nest," we here at Eckberg Lammers can help you protect your "nest egg."

Our Estate Planning team has continued to serve the needs of clients, throughout this pandemic in a no-contact environment. If you do not have an Estate Plan in place, we have worked out the logistics to assist you getting key documents in place. We are using telephone and/or video conferencing services to gather initial information, draft and exchange documents and have setup a seamless no-contact signing procedure.

Key documents include:

  • A Will (including list directing who receives sentimental and other specific items)
  • Trust
  • Power of Attorney (both healthcare and financial)
  • HIPAA Release (which allows your agents to speak with your doctors)
  • Health Care Directive
  • Electronic Authorization (which allows your fiduciaries to manage and shut down social media and electronic accounts)

If you already have an estate plan, now is a good time to review your documents to make sure they are current and reflect your wishes. This should include a review of those you have named to make health care decisions for you, to tend to your financial affairs during any period of incapacity, and to carry out the terms of your estate plan after your death.

Whether new or existing, make sure you communicate the location of your original documents with your loved ones and fiduciaries so they know where they are in case of an emergency.

Additionally, make sure your beneficiary designations for your life insurance policies, retirement accounts, and any other accounts that allow for a transfer-on-death designation are updated. These beneficiary designations trump provisions of your estate planning documents so it is important to make sure they are consistent.

We are in this together. We at Eckberg Lammers are committed to preparing you to the greatest extent possible. Having a current estate plan in place will help you reduce some anxiety during this difficult time.

Contact us today if you have questions about this topic or if we can assist you with your Estate Planning needs. 

Fill out the form below, or call our Stillwater, MN office at 651-439-2878 or Hudson, WI office at 715-386-3733.

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