Emergency Estate Planning During the COVID-19 Crisis

Take Advantage of Our Offer for an "Essential Estate Plan"

 

Video conference notarization & witnessing has just been authorized by the NC Legislature and is now available to NC residents (click on "NC Approves" tab for more info).  This emergency legislation has made it possible for us to offer a reduced-cost "Essential Estate Plan" for individuals and couples who are concerned that their current estate plan is inadequate  . . . or for those who have no estate plan at all.    

 

Here is a simple checklist that may be helpful in determining what planning you have or need:  

 

 

 

What Documents Are Included in the Essential Estate Plan?

  • Will;

  • Health Care Power of Attorney;

  • Advance Directive (Living Will);

  • Durable (Financial) Power of Attorney; and

  • HIPAA Authorization.

All of the above documents will comply with the requirements under the emergency video notarization and witnessing legislation just signed into law. 

 

If you have questions about these or any other planning documents, click on the "Planning Issues" tab above and follow the drop-down menu.      

 

How Much Does It Cost?

The cost for the above Essential Estate Plan is $750 for individuals (one set of documents), $950 for couples (two sets of documents).

What You Can Expect During the Planning Process?

Included is a one-hour video conference planning session, the preparation of state-of-the-art legal documents and video witnessing (Will) and video notarization of all of the documents.

No in-person meetings are required—everything will be done from the safety of your home on your computer, tablet, or smart phone.  All documents will meet the requirements of the newly-enacted Video Notarization/Witnessing legislation, and you will receive the original, notarized documents after signing.

 

If you want to add a Revocable Trust to serve as the center piece of your estate plan (all trust assets avoid probate and your plan remains private), please add $1000 to the above Essential Estate Plan Fee.  Click on the "Planning Issues" tab for more information about Revocable Trusts.

 

Exceptions & What’s Not Included?

 

In my opinion, planning for minor children or beneficiaries who, due to lack of maturity or inexperience need assets held in trust for their benefit, should always be done in a Revocable Trust, not a Will.  Consequently, clients with minor children or beneficiaries for whom trusts are appropriate will be required to add a Revocable Trust to their Plan.

 

The following planning can be added as needed and for an additional fee to meet other planning needs, such as:

  • Federal (or State) Estate Tax Planning & Generation-Skipping Tax Planning;

  • Supplemental Needs Planning;

  • Protecting Your Children’s Inheritance from Divorce/Creditors, including Planning for Tax-Deferred Accounts;

  • Medicaid Qualification Planning;

  • Planning for Parents;

  • Revocable Trust Funding (transferring assets to the Revocable trust).

 

How to Get Started?

 

Call or email us to discuss your planning needs and determine whether or not this Essential Estate Plan is right for you and your family.  Then download and complete a simple, one-page Client Information Form providing basic information, such as dates of birth and names of family members.

 

What Does the Process Involve

 

Once the Client Information Form has been returned, your first video conference with Attorney Krall will be scheduled for a mutually-convenient date and time.  Family members and advisors are welcome to participate, at your discretion. 

 

At the end of the 1st video conference you will receive a written Engagement Agreement specifying exactly what will be included in your plan.  One half (½) of the quoted fee will be due and payable when you return the signed Engagement Agreement.

 

It may be necessary to follow up by phone or video conference to answer any questions that come up during the drafting process. 

 

Within 2 weeks of receipt of the Engagement Agreement, your estate planning documents will be sent to your home in a 3-ring binder for your review.  Any changes you wish to make to the documents will be mailed to you with instructions for substituting the changed pages in your binder. 

 

When you are fully satisfied that the plan meets your goals and objectives, the signing video conference will be scheduled, after which the notarized pages will be mailed for insertion into your binder.  The remaining one half (1/2) of the fee will be due upon receipt of the notarized pages.

This website and all materials appearing herein are presented solely for educational purposes and cannot be relied upon by anyone for elder law, estate planning, tax or any other purpose.  You must seek advice from competent legal, financial and tax advisors before attempting any form of elder law planning or any other form of estate planning.  Nothing presented on this website implies or creates an attorney-client relationship between a site visitor and the author, Jay H. Krall.  Attorney Krall is licensed by the North Carolina State Bar and not in any other state.  Links to other internet sites are not endorsements of any products or services described at those sites.   

Circular 230 Disclosure: Pursuant to U.S. Treasury Department Regulations, we are required to advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including attachments and enclosures, is not intended or written to be used, and may not be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.

© 2020 Jay H. Krall,  Attorney at Law

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