Estate Planning: When There’s a Will, Things Go Your Way
In 2021, according to caring.com, only 27.5 percent of Black Americans had a will. Patrick Hicks, Head of Legal at Trust & Will, says due to COVID, that number although it is low, is probably the highest its ever been. “The pandemic has led many to look for estate planning services that are accessible,” Hicks told caring.com.
Estate planning is more than just writing a will. Quinntarra Morant works every day to educate her community in Pittsburgh and raise awareness. Morant is a licensed Black attorney specializing in estate planning. Her firm, Morant Law Offices, provides a systematic process to uncover any deficiencies in an individual’s estate plan and provides solutions to managing and preserving client assets. She said many people fail to realize that if they do not have an estate plan in place, one will be created for them whether they like it or not.
“What I’m finding is just not enough people actually know what estate planning is because it covers so many different things. What I always tell people is you want to be able to control what you’re leaving. You don’t want someone else to control, what you’re leaving,” said Morant. “So, what ends up happening is with any of these things, if you don’t put a plan in place, there is a plan in place for you. If you don’t create an estate plan, the state creates one for you.”
Morant says estate planning is more than just who gets what after someone passes away. It also includes living documents.
“There are three main documents that you’re thinking about when you’re estate planning: your financial power of attorney, which kind of covers you in the event you may become incapacitated at any point in your life, a medical directive, just making sure that any of your medical decisions are communicated, and then, of course, the last one would be a will,” said Morant.
Accessing estate planning has been made easier, in part due to the pandemic. Hicks told caring.com more consultations are available online than ever before and more estate plans are living online. “COVID has forced the industry to catch up with the times. Changes in technology have made it easier to create estate plans meeting or exceeding the quality available from legacy lawyers. Concurrently, changes in laws and regulations are making it easier to sign and store estate plans online, allowing more people to create a plan from the safety and convenience of their own homes.”
You have worked hard for what you have in life. Take the extra step to protect it with an estate plan.
Sorry, the comment form is closed at this time.