In a recent interview, leading estate planning attorney Dennis Toman, founder at The Elderlaw Firm in Greensboro, NC, released a COVID-19 checklist of essential documents for estate planning. —
For more information please visit https://www.elderlawfirm.com
When asked to comment, he said, "During the corona pandemic, it's become vital to ensure that estate planning documents are in order in the event of contracting the potentially life-threatening virus. Here are the essential documents to have on hand - as well as to update – when it comes to estate planning.”
A last will and testament is crucial to ensure that one’s wishes about how their assets are distributed are met after they pass away.
“In addition to this, wills also allow you to assign a guardian for any minor children under the age of 18 as well as an administrator to execute your estate. While you might have created a will years before, it’s important to make sure that the terms included are up-to-date and continue to reflect your wishes,” he said.
A living will - which is also referred to as a medical directive or advance healthcare directive - is vital in addressing end-of-life care.
When asked to elaborate, Toman said, "Living wills take into account important medical decisions such as the extent of medical intervention you should receive if you are unable to make a decision on your own. So, for instance, living wills specify what to do if you're in a vegetative state or have a terminal illness."
Toman further emphasized the significance of reviewing do-not-resuscitate - or DNR - orders.
“In the COVID-19 environment, DNR orders could largely affect the level of care that COVID patients receive. Depending on the state, some DNR orders don’t allow the use of a ventilator, which is crucial in rehabilitating COVID patients,” he said.
He continued by saying, “In relation to this, it’s always a good idea to have a healthcare proxy, which allows someone that you trust to make medical decisions to carry out your wishes.”
A HIPAA release form is required for the healthcare proxy - or anyone else in the family - to consult with medical providers about someone’s medical past and possible treatment in order to make an informed decision.
"Furthermore, you'll want to make sure that you have a durable power of attorney in place so that you can assign someone to manage your financial matters. Again, if you have done this in the past, it’s important to review and update it to remove anyone you no longer want as beneficiaries,” he added.
“If you’re unsure as to whether or not you have all your bases covered, make sure to contact an experienced estate planning attorney to set up or review your plan,” he said.
Name: Dennis Toman
Email: Send Email
Organization: The Elderlaw Firm
Address: 403 W Fisher Ave, Greensboro, NC 27401, United States
Source URL: http://RecommendedExperts.biz
Release ID: 88974402