Estate planning is always wise, and life is unpredictable. About 40,000 people die in car accidents every year, and none of them anticipated that happening at the beginning of the year. The goal of estate planning should always be to get it done in advance so that the plan is ready if something unfortunate and unexpected does happen.
That said, the COVID-19 (coronavirus) pandemic has brought this idea a lot closer to everyone's minds. It is hard to tell exactly how far it will spread or how many lives it will take, but some of the estimates are quite high, and it does spread fast. On top of that, some people are at high risk, including:
- The elderly
- Those already dealing with serious medical conditions
- These medical conditions include things like lung disease, diabetes and heart disease
- Those with weakened or compromised immune systems, such as those getting chemo for cancer
Young people and even children can get the disease. No one should assume that they are immune to it or that it's not a problem for them. However, the statistics do back up the fact that older adults, especially those who are 60 and older, face higher risks.
This is often the same group that is already thinking about estate planning. They may have put it off for decades but now, as they near retirement age and welcome grandchildren into the family, they begin considering what plans they need to make to pass their wealth on to the next generation.
If you would like to start your planning today, please contact us via email or telephone.