We can’t always predict if an emergency or misfortune may strike, but that doesn’t mean we shouldn’t be prepared. In the event of a natural disaster or some family emergency, would you know what to grab and be able to grab it in a matter of a few minutes, or even seconds? Having all your documents and important information organized in an emergency binder, along with your Estate Planning Portfolio, in an accessible location may save a lot of time and avoid a lot of headaches and frustration later on.
While the above list is not exhaustive of what you may need in an emergency binder, with a simple search on the Internet, you can find plenty of emergency document checklists that would cater to your circumstances. Place your Emergency Binder in a safe but accessible location. Putting it in a fireproof safe may be secure, but consider the amount of time to open it or remembering the access code. Organizing the vital documents will give you peace of mind and protect your family in a time of crisis.
The rapidly evolving coronavirus (COVID-19) pandemic is creating many challenges worldwide and has raised many concerns in regards to estate planning.
In our last post, we discussed when and how often we should review our current estate plan. Now more than ever we need to make sure we and our loved ones are legally prepared and protected in case the unthinkable happens.
In response to the “stay at home” order from California Governor Gavin Newsom on March 19, 2020, many of us are home, and now would be the time to review your current estate planning documents or get started the process of establishing your estate plan to make sure that you and your loved ones are well protected. Reviewing your documents would include making sure your wishes are set in your Trust, Wills, Powers of Attorneys, Guardianships for your minor children, beneficiary designations on your financial and retirement accounts, life insurance, annuities, etc.
Here are some questions to consider:
About the Author
Christine Chung, Esq.