6 Estate Planning Measures to Consider in COVID-19

6 Estate Planning Measures to Consider in COVID-19The COVID-19 pandemic has affected all aspects of our everyday lives. Murray Law Firm can help. Here are 6 estate planning measures to consider in COVID-19 and a world of uncertainty.

1) Get Your Ducks in a Row

The first thing you need to do is get your ducks in order. If you have a will, a trust, durable power of attorney, or a healthcare directive that’s more than ten years old, call us— we need to help you get it updated. If you don’t have a will, a durable power of attorney or a healthcare directive, call us and we’ll get you one.

2) Get Your Records Straight

The second thing is, if you have a corporation or a limited liability company, call us so we can get all your records in order. SBA is going to want to see your current records and your past records.

3) Organize Your Loans

The third thing you need to do is, if you loan anyone any money, or if you’ve given somebody a piece of property, personal property, a motorcycle or bike, get that in order. We can help you get a note or agreement signed that protects you and this other person.

4) Check Your 401K & IRA

The fourth thing you need to do is look at your 401(k) and your IRA. Are the beneficiaries the way you want it? Oftentimes, we put beneficiaries on these ten years ago, five years ago, and now we want to change them. Don’t forget about that. Make sure your beneficiaries are correct.

5) Analyze Your Bank Account

The fifth thing you need to do is go to your bank and check all your accounts – your CDs, your savings accounts, your checking accounts. Is the person on the pay on death line the one you want? Have you designated the right person to get the proceeds upon your death? If it’s not the person you want, make sure it is. If you don’t have one, put somebody on there. Don’t forget this— this is important.

6) The Children

The sixth thing you need to think about is your children. If something happens to you in the next several months, who do you want taking care of your children? Where do you want them to go? Make sure you make a plan for your children. The Murray Law Firm has been protecting people for 35 years. We’ve been serving north central Oklahoma for 35 years. We’ll continue to serve Oklahoma. Call us today.

Contact Our Stillwater Lawyers Today!

Do you have questions about estate planning measures to consider in the COVID-19 pandemic?
Contact our experienced Stillwater estate planning attorneys at Murray Law Firm today for a free consultation and case evaluation.
Let our experience work for you.

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