Importance of Estate Planning during Times of Unpredictability
Natural disasters, such as the Snow Bomb and California’s mudslide, have been highlighted in the latest news cycles. The unpredictability of these natural disasters make it difficult for people to prepare properly for them. Because of this, it is important for estate-planning documents to be stored safely to reduce the risk of losing them. Important estate-planning documents to safeguard include, a will, trust documents and power of attorneys. It is a good idea for the original copies of these documents to be placed in a safety deposit box or a secure file cabinet. Copies of these documents can be scanned and saved digitally; however, if a person does this, he/she must not lose or destroy the original estate-planning documents. A couple close friends and family members should know the location of the original estate-planning documents. This is important in case the person passes away or becomes incapacitated.
According to a 2015 Rocket Lawyer estate-planning survey by Harris Poll, 64 percent of Americans don't have a will. Twenty-seven percent of those Americans without an estate plan, don’t see the urgency in creating one. With the recent natural disasters, having an estate plan is more important now than ever. Because they are unpredictable, an estate plan allows a person to prepare for a worst-case-scenario and protect his/herself as well as his/her family no matter what happens.
At Lauren Richardson Law, PLLC, we hope that everyone stays safe and take the proper precautions during this time. We urge you to keep your financial, legal and estate-planning documents organized and safe during times of unpredictability. Have an emergency plan that ensures the safety of yourself and your family. If you have any questions about estate planning and how to properly prepare for a natural disaster, we offer a free 15-minute phone consultation.