COVID-19 has altered our daily lives. Now it is especially important to have estate planning documents to control assets at death and enable others to make decisions if we are unable.

The other day, we spoke with a potential new client who wants to get her estate plan done as soon as possible. She was just released from the hospital after being treated for COVID-19, which permanently damaged her lungs, reducing them to 30% of their previous capacity. Understandably, her own mortality is on her mind.

The COVID-19 pandemic has altered our daily lives. During this time, it is especially important to have proper estate planning documents to control the disposition of assets at death and to enable others to make our financial and medical decisions if we are unable.

Imagine a situation where you suddenly find yourself sick in the hospital, and no longer able to manage your financial affairs, pay your bills, or make your own medical decisions. If this happens to you without proper estate planning documents in place, you and your family could be at serious financial and medical risk.

There are some common issues families face when their loved one is incapacitated without proposer estate planning documents:

* Inability to access their loved one's bank account to pay bills

* No legal authority to write checks or apply for medical insurance/benefits to pay for hospital stays

* No power to make medical decisions on their loved one's behalf

* Long, expensive, stressful court hearings to get the legal authority to make a financial and medical decision on their loved one's behalf

Fortunately, with proper estate planning, you and your family can be protected from these types of situations. Some essential estate planning documents you should have in place include:

A WILL. Your Will only becomes operative at death. This document controls assets that you own that are not owned jointly with a right of survivorship, have a “transfer on death” or “pay on death” designation, or are governed by a beneficiary designation (naming someone other than your estate). The person that handles your affairs pursuant to the terms of your Will is your Personal Representative (formerly called an "Executor").

A DURABLE POWER OF ATTORNEY. Your DPOA appoints a substitute decision maker (your agent) to act on your behalf regarding your financial matters (e.g., paying bills, entering into real estate transaction, etc.). Your DPOA is only effective during your lifetime. Your DPOA can spring into effect upon incapacity or be effective immediately at the creator’s choosing.

A HEALTH CARE POWER OF ATTORNEY. Much like your DPOA, your health care power of attorney appoints a substitute decision maker to act on your behalf regarding your health care decisions (for example, admission to a skilled nursing facility). Your health care power of attorney is only effective during your lifetime and becomes effective when you are unable to make or communicate decisions yourself.

A LIVING WILL. Your "Living Will" (technically called a Directive to Physicians) sets forth your intentions as it relates to certain end-of-life care matters (e.g., do you want a feeding tube; do you want to be put on a ventilator?) Putting these wishes in writing and discussing them with the person holding your health care power of attorney and other loved ones can prevent your family from speculating as to what your wishes may be and from the emotions that come with making such decisions on your behalf.

If you have estate planning questions or if we can be of service to you, your family, friends, neighbors, or co-workers, give us a call at 253.858.5434 to set up an appointment today. We represent clients throughout Washington and Idaho and are available to meet in person (with masks and other appropriate social distancing protocols in place), by phone, or via video conference.