Planning for Life After the Pandemic

With Covid-19 vaccination rates climbing and mask mandates being lifted across Minnesota, life is starting to look a little more like it did before the pandemic. And while things are not exactly the same, we have a better idea of what the future might hold.

With that in mind and considering all the ways life has changed in the last year, you may want to add estate planning to your to-do list.

Why you need an estate plan now?

A lot has happened in the last year, and those changes can affect your legacy and your wishes for the future. For instance:

  • If you bought a new house, you might want to place it in a trust.
  • If you lost a loved one, you might need to define or update your beneficiaries and other appointed roles.
  • If you were sick, you might have new or firmer beliefs in the medical care you wish to receive if you fall ill again.
  • If you changed jobs, you could have new financial resources or a stake in a new business that you want to protect when you pass away.
  • If you had a baby, you can use an estate plan to appoint guardians and utilize tools for preserving assets to leave for your children.

These situations can affect how you feel about the future and what you leave behind. They can also affect who will make decisions for you if you become incapacitated and who will act on your behalf. Thus, defining your wishes in an estate plan can be crucial.

Making a plan for the future

This last year has been difficult; it changed the way people interact with each other and forced too many families to confront the reality of losing a loved one. As we some semblance of normalcy returns, remember how a severe illness or sudden loss can affect families and ensure you have your legal, financial and medical wishes in place—both for your sake and for the sake of the people you love.