Taking an Estate Plan Inventory During COVID-19 You Get a Better Idea of What You Are Leaving

stockfresh_5472698_hand-signing-last-will-and-testament-document_sizeS-300x200The coronavirus pandemic is forcing people to think about things they have ignored for too long. The possibility of dying from this disease makes people stop a moment and consider the condition of their estate and what they will be leaving behind. It is time an individual review how prepared his or her estate is for a possible tragedy.

Estate planning is a process far too many people put off because they are young. It is something that only senior citizens do but the circumstances have changed. It is crucial to look at the estate and how it will affect the financial wellness of family survivors.

An individual needs to do estate planning to avoid the delays brought on by probate court. Deciding what is to be done with property, securities, and life insurance policies makes the final distribution so much easier. It is no secret that older employees are becoming worried about what will happen if they succumb to COVID-19. Employers can help by offering the kind of assistance required to put an estate in good order. Countrywide Pre-Paid Legal Services has a financial wellness program that addresses estate planning.

Organization Is Critical

Putting things in order will make estate planning that much easier. A person should know what he or she has that should be included in an estate. A tangible property list can help distribute items such as furniture and prevent fights over knickknacks and collectibles. An inventory of 401(k), IRAs, securities, and life insurance policies is an excellent way of determining how financial possessions are going to be distributed. Knowing the value of the property is important.

Countrywide uses certified counselors to help with financial wellness issues. These professionals work in the same community as the client organization and Countrywide plan members are given priority. It is essential these days to keep adequate social distancing. Our counselors can do that and make use of videoconferencing and other means of advising a person so that safety is maintained.

The Asset Inventory

Our primary estate planning tool is an asset inventory. The Countrywide counselor can communicate with email, text messages, telephone calls, and videoconferencing to get information together. Fax machines can also be used.

During an asset inventory, the Countrywide professional organizes sensibly. Once everything has been collected and sorted, the counselor then can advise on how to use the asset inventory for effective estate planning. We realize that people have questions and those inquiries are encouraged.

People get a little bit nervous when it comes to financial matters. They do not want to appear naïve, and they do not need lectures from anybody. Prospective clients can rest assured that their employees are going to be treated with courtesy and respect. We want our counselors to have a high level of emotional intelligence and we recruit these people based on experience and communication skills. Financial wellness is a sensitive topic and our counselors show a lot of empathy when working with plan members.

With the Help of a Client

Countrywide has several financial wellness options in addition to the asset inventory. All our services are intended to help people deal with common financial challenges. We work with all types of organizations and each client has a unique workforce. We want our program to fit the needs of the client’s staff, and we ask the client to help us. We will show our services to a prospective client and ask the decision-makers to determine what services will be part of their financial wellness plan. We provide the administration which is streamlined to serve plan members best.

There will come a day when this pandemic will pass. Until then, it is smart to think of the quarantines as an opportunity to assess estates and other financial matters. If you have questions about what we can do for your employees, please feel free to contact us at your convenience. We want to help your hard-working staff during this time of uncertainty