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Coronavirus Outbreak Stresses the Importance of Estate Planning

May 24, 2020 General

Experienced Oregon Estate Planning Attorney

This is a strange and difficult time for everyone. Coronavirus has disrupted American life, caused record job loss and created unprecedented public health and economic chaos. The numbers don’t lie: the coronavirus outbreak is the single most catastrophic viral pandemic since the Spanish Flu more than a century ago.

Fear has gripped many Americans, and not unjustifiably — coronavirus was once thought to affect only seniors, but it has also been shown to be lethal to younger infected patients too.

In uncertain times, people tend to look to estate planning as a means of exercising some control over their family’s future. This coronavirus pandemic is one of those times. The dangers posed by coronavirus are — more than ever before — stressing the importance of proper estate planning.

Coronavirus Risks Likely to Continue

Currently, it is not clear when coronavirus risks will begin to subside. Some scientists are predicting a return to normalcy by the end of the year, while others are predicting a true return to normalcy only once a vaccine has been developed and distributed, with estimates closer to summer 2021.

Of course, there is also fear among pundits that coronavirus will be here to stay a lot longer than initially anticipated. Some predict that mutations will lead to alternative forms of coronavirus that could circumvent whatever treatments and vaccines are developed for COVID-19.

Forced Isolation and Rapid Health Deterioration

Perhaps the most frightening aspect of the coronavirus infection is that — especially in the most severe cases requiring medical intervention — the infected patient must be isolated from their loved ones. There have been many reports of individuals dying alone in a hospital bed, isolated from their family. This issue is further exacerbated by the uncertainty of the disease, as patients sometimes die unexpectedly — their health having deteriorated so rapidly that no intervention was possible.

Given the onset speed, spontaneity, and isolation associated with the coronavirus infection, patients without adequate estate planning documentation already in place may find that they do not have the energy or time to properly set up an estate plan to take care of their loved ones. As such, it’s more important than ever for families to reach out to qualified attorneys to ensure that a proper estate plan is drafted and executed — that way, coronavirus treatment (and potential complications therein) will not cause an estate disruption.

Contact Yellow Dog Legal for Help

If you are interested in speaking with an experienced Oregon estate planning attorney about setting up a comprehensive plan that protects your lifetime assets and distributes those assets to the desired beneficiaries, contact Yellow Dog Legal for guidance.

Founding attorney Nicole Schaefer has worked with a wide range of clients, from older couples with straightforward estate planning needs to wealthy business owners who must also implement a business succession plan. Nicole is committed to client-centered legal representation, and to that end, she works closely with each client to understand their preferences and concerns. This gives her the insight necessary to properly tailor the estate plan to suit the client’s particular circumstances.

Call Yellow Dog Legal at 971-350-8516 or complete an intake form online to schedule a free consultation.