To all front-line and essential workers: Thank you for working so hard, day in and day out. You tirelessly give yourself to care for some of the most vulnerable people in our society.
Important Question
Please allow us to ask one important question. As an essential worker: “Have you taken the time to take care of for your own house? Working together, we can craft the best possible estate planning prescription. It will protect you today, tomorrow, and well into the future.”
Revocable Living Trust
Essential workers should manage and protect money and property through a Revocable Living Trust. Contrary to popular opinion, you needn’t be rich to benefit from a trust. Two major players in this mix are trustees and beneficiaries. During your lifetime, as long as you are able, act as the trustee. You can control all money and property in the trust. However, when it comes to managing money and property, the trustee and not as the individual owner acts. In addition to serving as the initial trustee, you serve as the beneficiary. This means that although you transferred your money and property into the trust, you receive the benefits of that money and property.
Estate Plans for Essential Workers (POA)
If you become incapacitated or pass away, the individual you name as your successor trustee will step in and manage the money and property. They will follow the instructions you include in the written trust agreement. Even if you are still alive when the successor takes over, it will be the successor trustee’s responsibility to manage and use the money and property for your benefit. Then, upon your passing, the successor trustee is required to hold or distribute the money and property in the trust according to the instructions in the trust instrument. This transition of trusteeship between you and your successor trustee happens without court involvement, making it quick and private.
Financial Power of Attorney (POA)
This allows the trusted person you choose (your “agent”) to handle your financial matters on your behalf. The agent can handle a wide variety of transactions from signing checks to opening a bank account to filing your taxes, depending upon the authority you grant that individual in the power of attorney. This can be a helpful tool if you are incapacitated, bedridden, or just unavailable to engage in the necessary transaction. The beauty of this document is that you can customize it so that you will have the assistance you need, when you need it, based on your individual situation and wishes.
Essential Workers Medical Power of Attorney (POA)
As you are probably well aware, a medical power of attorney allows you to name a trusted individual to communicate your medical wishes in the event you are unable to do so. It is important that you choose someone you trust because you will not be able to oversee your agent’s decisions. It is equally important that you convey your wishes to this individual clearly. This can be accomplished through the use of a living will or advanced directive.
HIPPA Authorization for Essential Workers
Additionally, you can execute a HIPAA authorization in the event you would like other trusted individuals to have access to your medical information (i.e., to get a status update on your condition or obtain test results for you) but do not want them to have the ability to make decisions. In a stressful situation, the dissemination of reliable information straight from the healthcare provider can be a way to ease tensions and allow everyone to process what is going on with a level head.
We understand that you are busy and your time is valuable. To better assist our clients, we are available to meet by telephone or video conference. We may also be able to use remote procedures for the signing and executing of your documents, eliminating the need for you to come into our office at all. Your estate planning should not have to wait until you have a day off. Give us a call so we can get started caring for you right away.
About Skvarna Law Firm in Glendora & Upland, California
Skvarna Law Firm operates offices in Glendora and Upland, California. We provide legal services. We cover San Bernardino, Los Angeles, Orange and Riverside Counties. This includes several cities. Upland, Ontario, Rancho Cucamonga, Fontana, Colton, Rialto, Chino, Chino Hills, Glendora, Claremont, Pomona, La Verne, Montclair, San Dimas, Azusa, Covina, West Covina, Diamond Bar, Walnut, La Puente, Corona, Norco & Mira Loma. Visit SkvarnaLaw.com to learn more.
