Robert Sajdak, President/CEO
When so many facets of life seem to be out of our control, it’s useful to take time to look at the items we can control.
Below are a few recommendations from Randall Denha, Esq., an estate planning attorney in Birmingham, Michigan and member of the Credit Union Trust board of directors.
For most people, estate planning documents are a form of insurance—you do not think they will be needed in the short term, but you have them anyway. Do your estate planning documents reflect your current wishes? Have there been changes in your life and finances that require an update? Are your fiduciary choices (including guardians for minor children) the people you want? If not, this should be addressed.
The coronavirus outbreak has given reason for us to not only make sure our estate plans reflect current wishes, but also to seek potential opportunities for smart planning. In the words of Albert Einstein, “[i]n the middle of difficulty lies opportunity.” When uncertainty becomes top of mind, it’s an ideal time to stop, consider your wishes, and add order and control to your life.
Involving Credit Union Trust
Involving an advisor like Credit Union Trust can be very prudent, especially in uncertain times. Don’t presume that you can’t make progress or won’t have access to advisors during the stay-at-home order in place for the next few weeks. Many attorneys and financial advisors are also working diligently via alternative means to help clients with their important legal needs. A combination of email, calls, and meetings through Zoom, FaceTime, and other services may help move things along.
We are available to discuss your concerns and plans. We are open and helping individuals and their families during these unexpected times, even remotely. Call 877.730.6109 or email firstname.lastname@example.org for more information to discuss or schedule an appointment.
Finding Certainty in times of Uncertainty
Randall Denha, Esq., offers the following recommendations:
- Have your will created or updated
- Review your living trusts, healthcare powers of attorney and financial powers of attorney
- Review your beneficiary designations
- Create lists of passwords, digital assets and personal communications for your loved ones
- Reach out to your financial advisor, insurance advisor, and others in order to:
-Ensure that your beneficiary designations are up to date
-Discuss any new planning opportunities relative to your current financial status
- If you require any medical attention in the near future, confirm that your medical provider has a copy or your patient advocate designation and knows who you wish to have access to your confidential health information
- Make sure that your loved ones know if you have appointed them to any role in your estate plan.