INDUSTRY INSIGHT
ELDER CARE
SPONSORED CONTENT
AS THE PANDEMIC CONTINUES INTO 2022 , RESOLVE TO SCHEDULE AN ESTATE PLAN “ CHECK-UP ”
At the start of each new year , many of us make resolutions to improve our physical , financial , spiritual and / or mental health . However , statistics have shown that after just one month , only 64 % of people are still successful in keeping their resolutions and after six months there are only 46 % of people who are still hanging in .
When you add to this equation the fact that we are fast approaching the second anniversary of the COVID-19 pandemic in the U . S ., is there any doubt that it has become even more difficult to move forward with any type of planning ?
As we embark on yet another year in this pandemic , it is more important than ever to think about steps that you can take now in order to gain some control in these ever-changing and uncertain times . One important resolution to make in 2022 is to schedule an “ Estate Plan Check-Up ” to review your existing estate plan , or to create an estate plan if you do not already have one .
THERE ARE ENOUGH WORRIES IN LIFE …
CHOOSING THE RIGHT ELDER LAW FIRM SHOULD NOT BE ONE OF THEM
Over 25 years o f helping f amilies and their l oved o n es secure a n d p a y f o r q uality c a r e .
E x c e l l e n t C l i e n t S a t i s f a c t i o n 5 S t a r G o o g l e R a t i n g s Our e x perience speaks f or itself .
During the pandemic , many of us have had to deal with health scares , elder care worries , child care issues and losing loved ones . All of these scenarios have forced us to examine whether we are properly protected with safeguards to ensure that our loved ones are taken care of in the event that anything should happen .
If you do not have a current estate plan in place , it is now easier than ever to check this important task off of your to-do list . At Zacharia Brown , we offer online questionnaires , virtual , phone or in-person consultations , and drive-up signings at our offices , all to make the estate planning process as painless as possible . Additionally , if you do have an established estate plan , it is equally as important to review your plan with a qualified Estate Planning attorney every few years to ensure that changes in laws have not affected your intended wishes .
Over the past few years , there have been several changes to laws in the estate planning arena .
First , the laws regarding Powers of Attorney were updated in
2015 to include the following : 1 . New requirements for executing a POA ; 2 . New formalities to the “ Notice ” requirement ; and 3 . New mandatory duties for Agents .
Additionally , the SECURE Act , which was passed in 2019 , implemented changes to IRAs , 401 ( k ) s , RMDs , and more . The Act instituted several new rules relating to retirement plans , as well as what happens to retirement accounts that are inherited .
One other area of estate planning laws that is constantly being updated involves digital assets and the digital footprint of individuals . These laws relate to how digital assets are accessed , navigated and managed when a person passes away . If your Last Will and Testament and Power of Attorney do not properly address your digital assets , they should be updated .
Now is the time to stop putting off creation of an estate plan . Or if you have an established plan , you should schedule a “ Check- Up ” to review your current estate planning documents .
These important tasks will certainly help to alleviate one area of stress and uncertainty caused by the pandemic and will also allow you to keep one of your most important resolutions for 2022 !
111 W . McMurray Rd . McMurray , PA 15317 ( 724 ) 942-6200
Carrie Conboy is an associate attorney and practices in the areas of Estate Planning & Administration with the elder law firm of Zacharia Brown P . C . Zacharia Brown is one of the oldest , most-established elder law firms in western Pennsylvania . Pittsburgh-area office locations include McMurray , McKeesport , and Wexford . Contact information – Phone : 724.942.6200 . Website : www . pittsburghelderlaw . com . Email : carrie @ pittsburghelderlaw . com .
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