Letter To The Editor: Legal Strategies For Unsettling Times

The following was submitted by Curley Law Firm a letter to the editor. If you would like to submit a letter to the editor, email samantha.mercado@patch.com.

The threat of Coronavirus has caused tremendous anxiety for seniors and their loved ones. In the last few weeks, media pundits have recommended countless “to do” lists on how to prepare. Unfortunately, one vital planning strategy is rarely included on those “to do” lists. That strategy is to get your legal affairs in order.

It is especially important for seniors to create a roadmap for “what if” scenarios in the future, whether that may be Coronavirus or any other unexpected event.

If you cannot make your own healthcare decisions and you have not done your legal planning, or the planning you have is outdated or inadequate, your loved ones will be forced to pursue a Probate Court Guardianship. Waiting for the Court to act, however, could impact your access to medical treatment or even your right to participate in available drug trials. Any unusual health decisions would require special Court oversight and any objecting family member can grind the process to a halt. Moreover, going to Court will be expensive and stressful for your loved ones – why put them through that?

Instead, sign a Health Care Proxy while you are well. Also, sign a HIPAA Authorization and Release so your decision makers have ready access to your medical records and information.

Consider signing a Living Will to clarify your end-of-life decision making wishes. This can protect you against family members who want to overrule the Health Care Proxy because they think they understand your wishes better.

We set clients up with an Emergency Medical ID card to carry in their wallet or purse. First responders and medical institutions can easily access their Health Care directives through the card any time of day, anywhere in the world. This ensures that in an emergency, your appointed agent – not a stranger – is the person calling the shots on your behalf.

You also have to plan ahead for the management of your financial affairs. No one will have authority to pay your bills, access your IRA or 401(k), or deal with your real estate unless you give them clear authority to do so in a Durable Power of Attorney (POA).

Beware that most POAs fail to include all the necessary authority to shield and protect your nest egg if you require long-term care, or to minimize estate taxes if you have a taxable estate. To get your POA done right, be sure that your attorney deals regularly with asset protection planning and/or estate tax planning. If you have no POA or your POA is inadequate, your loved ones will be forced to pursue a costly, stressful Probate Court Conservatorship.

This is also an opportunity for you to check the beneficiaries on your life insurance, annuities, and other financial accounts and assets, as those beneficiaries may not reflect your current wishes. Note that your Will or other Estate Planning documents will not override your beneficiary designations on these financial products.

Everyone should have a Will so that upon your death, you – not the Commonwealth – determine where your assets pass. For many families, a Trust may offer additional planning opportunities and protections.

Several local colleges have closed campuses, many concerts and large gatherings have been cancelled, and “social distancing” is becoming the new norm. For those who are anxious about visiting an attorney’s office, a good attorney should be able to help you do much of the planning through telephone or video conferences on your mobile phone. Even an Estate Plan signing can be conducted with strategic preparations to minimize risks. By way of example, our office implemented a detailed COVID-19 Prevention and Response Plan, which we update based upon ongoing CDC and other expert guidance.

While Estate Planning may not prevent a healthcare crisis, it can and will ensure that you control who makes decisions. It also prevents your loved ones being left with an expensive, stressful mess to fix in a tight timeframe. Getting your legal affairs in order today will give you the peace of mind that you have taken a tangible step to truly be prepared for an uncertain future.

Submitted by,

Patrick G. Curley, Esq.
Certified Elder Law Attorney
Curley Law Firm LLP
1 Common Street
Wakefield, MA 01880