Due to the Coronavirus outbreak, I decided to temporarily close my private investigative business on March 14, 2020.
Have plenty of free time on your hands? Get your trust put together.
No complaining about that. Almost everyone I know is in the same boat.
The pandemic has provided me with a lot of free time. It also caused a client of mine to die – and, unfortunately, he did so without a will or trust. This was unnecessary. His estate will now go into probate and the county could benefit from the court process as much as 10-20% of the subject’s assets.
I got to thinking, might I just prevent one family from this heartache? Over the past 40 years, I have lectured and written about wills and trusts. I have no skin in this game, but you and your family have a ton.
- Read this post as if your life or family’s assets depends on the contents, because it does.
- If you don’t have a will or trust, forget about the will and find an attorney to prepare you a Trust.
- Don’t use an online service. You will pay less now but much more in the future.
- Don’t use your Uncle Bobby, a paralegal or an attorney who is not versed in this subject matter.
- If you live in California, email or call our number below and we will refer you to our top-echelon firms.
- If you live outside of California, email us what state and county you reside and we will make every effort to find you an attorney.
- Review your estate planning documents.
- Does your documents reflect your current situation and wishes?
- If you have not had your attorney and yourself review the documents since 2017, you may not be aware of new state and federal law changes affecting your plan.
- Contact your estate planning attorney by telephone during this pandemic. If you have any questions or wish any matter clarified, it certainly can be accomplished with a competent law firm.
- Have a consult with your attorney about a business review, which should be complimentary. Discuss the status of your Operating Agreement, Bylaws or Shareholder Agreements and a discussion of the status of your annual meetings documented by Minuets and/or Resolutions.
- Many business owners should have their attorneys advise them regarding the $2 Trillion CARES Act and assist them with the decisions they need to make regarding employees and their financial forecast. Additionally, they should ask their attorney to assist with coordinating them with banks to the appropriate loans.
Filings with the courts via email are continuing. I have been in the Federal, State and local court systems for the past 50 years. I have no expectation that court hearings will move forward in the next thirty to sixty days.
As you know, no one is immune from the virus. I was not a great biology student nor schooled in the art of disease detection and/or remedies. I do have great street smarts and some semblance of common sense. My take is this:
The virus can’t be stopped anytime soon, given we have 60 million people on the front lines (truck drivers, food workers, grocery staff, medical personnel and those folks keeping our electricity, internet and gas on) and untold numbers of idiots who will simply not practice using a face-mask or social distancing.
My guess is that the virus will only be stopped by a vaccine, and that solution may be months in the making. Can we expect this pandemic to end before one year? I hope so.
Either way, if you find yourself with some free time available to you now, it might be a good idea to get your affairs in order, and make sure your wishes are respected – be it tomorrow, next year or forty years from now.
Do you want to take a chance on some county attorney dispersing your assets, or would you rather do that yourself? Call a Trust litigation attorney.
Let your wishes about your health and wealth be clear in the minds of the loved ones you leave behind.
In any event, I hope you read this post: Will? No. Revocable living trust? Yes.
If you have any questions or need a referral, please email us.