No one expects to catch let alone die for the Covid19 virus. I’m 66 years old and fall into the most likely to die category. However, it’s certainly a possibility the odds grow as this pandemic continues to infect more and more people.
Three things you can do while you’re home bound that will save you and your family tons of money in the event you do succumb to the virus, and they’re actually things you should do anyway.
1. Write a Will. Forms are free online, in guide books, or get help from a lawyer.
2. Make a Living Trust. This is much more complicated but it will save your heirs years of legal probate, money, and makes the transference of assets a relatively straight forward process. I did mine last year with an estate lawyer and it costs $800. He helped with all of the forms, gave needed advice, and filed the trust with the proper state and county agencies.
3. Make a list of your family, friends, medical providers and where your will and Trust can be found. Designate the people you want contacted in the event you become incapacitated or pass away. You can also designate if “Do Not Resuscitate” if this is important. Give a copy to your family and post a copy on the side of your refrigerator. This is where the paramedics will look first if they come to save you.
The reason I’m posting this is my mother passed recently and had a Living Trust that said exactly who gets what and think I may have paid $200 to transfer her estate to me and my family. Everything was done in less than 30 days and there was no inheritance taxes levied. Many people have and will die from this pandemic and this is one thing you can address now.
I know this is not a sports related topic, but most or all of the members and gamblers here at Pregame are not ignorant that the odds of death are 100%. When it comes we don’t know, but please think about your family, friends, and charities and get the process started.
And I hope everyone is heeding the Covid19 precautions and we all move forward in good health.