The global COVID – 19 or Coronavirus outbreak has left the entire world in extreme thoughts of tension and anxiety. While doctors and researchers are trying their best to put a leash on this spreading disease, people in dozens across countries are getting effected and contracting the virus. This pandemic has caused many to think about their estate plans in case of an eventuality. Though nobody likes to think about mortality, situations like this can kick off thoughts about certain affairs that need to be taken care of to protect themselves and their loved ones. Here’s a list of things which one can prepare and update to leave themselves and their family with all the necessary and important things.
3 things to think about before Coronavirus affects you
Will or revocable trust
It is the right time to start thinking of possible ways to safeguard your loved ones and protecting your assets, should something happen to you. With a digital Will or a digital revocable Trust, you can ensure that your wishes are documented for your asset distribution from the comfort of your home.
Digitalization of financial documents
Even if you have a Will or Trust, it is paramount to have all supporting documents stored safely as well. From loan papers, insurance documents, to bank details, official passwords and many more, one should save all of these in a digital vault, that can be accessed by a beneficiary in future from anywhere in the event of one’s death.
Power of attorney for healthcare and financial dealings
In situations like this, one must get his/her financial and healthcare details in place. Moreover, he/she must choose a person and give a durable power of attorney. That person with the power of attorney will be responsible to take decisions related to finance and medical on the creator’s behalf if something leaves him/her incapacitated. One can choose individual persons for healthcare and financial respectively to match things as per their particular wishes.
While one should get his/her Will done or save financial documents or declare power of attorney at any time of his/her life, this sudden coronavirus outbreak makes the above-mentioned activities immediately necessary. It is always better to give a safe and secured future to the loved ones at times when there are chances that something might happen.
Gift My Legacy is India’s first digital platform that provides services for all the above-mentioned things. From creating a digital Will/ revocable Trust to storing financial details, this robust platform has been bringing a smile to all its users’ faces. So, it’s better to be safe than sorry in this COVID-19 outbreak and subscribe to Gift My Legacy!