The pandemic is causing us to consider a lot of things that we may not have before, even if maybe we should have. Have you thought about who would care for your children if you got sick with COVID-19?
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If you’re a parent, you may feel even more guilty than usual. If so, you are definitely not alone. Currently, the burden is on you to both carry on with your work and manage your child’s full-time care and education. Two full-time jobs that you’re trying to do by yourself, likely without teachers or care providers to help you.
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WILLS, TRUSTS, HEALTH CARE directives, POWERS OF ATTORNEY, and LEGAL GUARDIAN nominations are on many of our hearts and minds as COVID-19 compels us to FACE our own FRAGILITY and MORTALITY.
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Today, we want to FOCUS on one of the major RISKS of not being “in the KNOW” when it comes to your PARENTS’ ESTATE planning MATTERS: the undue INFLUENCE of bad ACTORS.
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As you already know, the COVID-19 pandemic means nothing is BUSINESS as usual. Many states, including OHIO, have implemented a “SHELTER-IN-PLACE” order to LIMIT the SPREAD of the DISEASE. If you have attended to your (and your parents’) immediate needs, it will be time to consider more long term precautions.
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Do your PARENTS have an estate PLAN? Is it up to DATE? No matter how RICH or POOR you or your parents are, especially in the wake of the COVID-19 pandemic, YOU need to be ASKING these and several other QUESTIONS. When your parents become INCAPACITATED or DIE, their AFFAIRS will become your RESPONSIBILITY , and it will be IMPOSSIBLE to ASK them to CLARIFY anything. So, if you do not know whether or not they have estate planning in place that will help you best support them, read on.
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