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Estate Planning In This Coronavirus Moment

Author: Andrew M. Friedman, Lawrence S. Jacobs Date: 03/27/2020

Categories: Covid-19 News and Resources, Estate Planning and Administration

Image of a pen laying on top of papers that are a last will and testament for Estate Planning. Does this sound like you these days? Fresh out of bed, your day begins with a rush of COVID-19 news. Your email box pings with alerts. Memes crowd your social media feeds. And your smartphone vibrates with texts from worrying friends and family. On top of that, you have more time to think about it all a little too obsessively because you’re working at home instead of going to the office and you’re taking social distancing seriously. You ponder the uncertainties and wonder if there’s anything at all you can do about it. 

While you are thinking about your health, your family, your business, your finances, and what the future holds, there is a way you can channel that energy in a positive way. This is an excellent moment to consider updating or creating the documents designed to protect your loved ones and your assets. Peace of mind is a valuable commodity these days, and our estate planning clients consistently tell us that signing off on their carefully considered wills, trusts, powers of attorney and other documents is a satisfying, even happy, event. Planning ahead – seriously, thoughtfully, and creatively – is a great way to feel more in control and take positive action that will last long after COVID-19 fades.

You have the time. We have the way.

When it comes to estate planning, procrastination is the easiest way to go. Under normal circumstances, there’s never enough time to make the appointments, think it through, and make the decisions. Yet, at this very moment, what many of us have in unexpected abundance is time – and a lot of it. With the video conferencing tools (and the good old-fashioned phone) at our disposal, we can conduct the meetings, including talking through your needs, explaining your options, and devising plans – all while maximizing social distancing. As documents come together, we can transmit and revise them electronically. Though the process necessarily demands a lot of interaction, we can easily accomplish the planning and document creation without having to be in the same room.

When it’s time to sign…

As you can imagine, documents this important require you to sign them in person, in ink. Depending on the kind of documents and whether you are in Virginia, Maryland or D.C., the presence of one or more witnesses or a notary public may also be required. As you know, CDC guidelines and best practices are evolving on a daily basis. Rather than describe protocols right now that may be out-of-date or even unnecessary by the time your documents are ready for final execution, we will make you this promise: Those of us at McMillan Metro will offer and manage a safe, appropriate procedure that’s consistent with current guidelines.

Let’s get started.

Whether you have existing documents that need to be updated or replaced, or if you are approaching estate planning for the first time, we are ready to help. To get started, please call one of our trusted estate planning team:

Andrew M. Friedman (for DC and MD clients) — (240) 778-2331AFriedman@mcmillanmetro.com

Lawrence S. Jacobs (for DC, MD and VA clients) — (240) 778-2330LJacobs@mcmillanmetro.com 

Ronald E. Lyons (for DC and MD clients) — (240) 778-2306–-RLyons@mcmillanmetro.com

For additional information on contacting us, please submit an online inquiry or call us at (301) 251-1180.