Estate Planning in Light of COVID-19

Are Your Will and Trust Up to Date?

From the desk of San Diego Trust Attorney, Kristina R. Hess, KR Hess Law PC

Estate Planning and COVID-19

The world as we know it has changed dramatically over the course of the last several weeks as we have been confronted with the worldwide spread of the COVID-19 virus.  As we gird ourselves for the coming weeks and hopefully the end of this crisis, now more than ever it is critical that we have our wills, our trusts, and our estate planning in good working order!

A Will is not Enough

In California, if you own real estate or have cumulative assets valued at over $166,000 then, just have a Will is not enough.  You see, a Will and Last Testament that disposes of your assets, actually guarantees that your loved ones will have to go through the time consuming, expensive (5% of the gross fair market value of your assets), and public San Diego Probate court process.

The only foolproof way to avoid probate is to have your assets owned by a living trust (or if you have rental properties, an LLC).  

5 Legal Documents that everyone needs

With regards to Estate Planning and COVID-19, now, more than ever, it is time to make sure you have the 5 Legal Documents that everyone needs:

  • Living Trust
  • Pour Over Will
  • Durable Financial Power of Attorney
  • Advance Health Care Directive
  • HIPAA Authorization.

Live Video Estate and Legacy Strategy Sessions

In light of the virus, we are offering San Diego families ZOOM video estate and legacy strategy sessions, or via telephone where we can discuss your current situation and see what your needs are.

Estate Planning Webinar

In addition, if you would like to discover the “Truth About Estate Planning for 2020” and especially in light of COVID 19, be sure to watch our no cost Webinar now, or join me live for my next event.

I hope you and yours are staying healthy and well.  Together we will get through this crisis.  

To your wealth, health, and prosperity, time to create your legacy today!

Kristina R. Hess