Planning during an unexpected Pandemic
“Protect those you love” is our moto at Treveri Law, PC. What does this mean? It means that with life’s unexpected moments, we need to know, as parents, spouses and adults, that if something were to happen to us, that those important to us will be protected. Do you have all the legal documents in place to protect your loved ones from predators, creditors, divorces and youthful bad decision making if you became incapacitated or died?
One of the silver linings of the recent pandemic was getting to spend quality time with my kids and my mom, who recently moved in with me. We had the opportunity to eat meals together and play board games and even toast s’mores in our backyard kiva.
It also gave me the opportunity to speak to my kids about legal documents I need to change as my father, my former Power of Attorney, recently passed away. Who should I name now? Are the kids ready to step into the role of becoming a money manager and/or healthcare advocate, the way I now have to be for my Mom? Should I look to find a corporate trustee? What beneficiary designations need to be changed? So much to do!
During COVID-19, the rushing around stopped and I, as I know many of you, had the opportunity to breathe, but don’t let this golden opportunity to create or update your estate planning pass you by. At Treveri, during the month of June and until tax day on July 15th, we are offering a 20% discount off of our fixed price packages to friends and family of current clients. All they need to do is Call my office at 505-835-6580 and mention your name for the discount. After July 15th, we will be increasing our hourly and package rates and no longer intend to offer packages with automatic updates. If you appreciate the work we did for you at Foster Legal Advisory Group, then please refer your friends and family to us at Treveri Law today.
What documents do I need for a basic estate plan in New Mexico?
At a minimum, every family needs to have the following documents created for a basic estate plan:
Will or Trust, also called a “Revocable” or “Living” Trust
Durable Power of Attorney over financial matters
Healthcare Power of Attorney
Living Will, an Advance Healthcare Directive
Digital Asset Access Authorization
Guardianship (Temporary and Permanent) designations if you have children or are responsible for a disabled adult.
Best practice is to have your Trust notarized and your Will notarized and witnessed by two unrelated persons.
Notarization is required for nearly all of your incapacity documents in New Mexico as it is the notary’s job to assess competency of the signor. If the signor is elderly, or ill, it is absolutely vital, however, that the documents are drawn up by an attorney after an in-person consult. There are many, many cases where angry family members and creditors who will contest a will or incapacity documents after a triggering event and having had an attorney involved will protect the decisions made by the designator. Notarization is also strongly suggested as some medical providers may only accept a document that is notarized.
Foster Legal Advisory is now Treveri Law, PC
I am sure you are reeling from all the changes we all have faced in 2020. Its been so busy that I have not had the chance to explain the name change and to reconnect. Foster Legal Advisory Group is no longer involved in estate planning but will be doing business consulting work on a regional basis. For Treveri, I have increased my staff to add the wonderful Crystal Boyd as my right-hand lady and paralegal. We will be doing weekly blog posts to the website and sending out a weekly link to the blog as well as a quarterly newsletter. You will also soon be getting a reminder letter to make sure your beneficiary designations and assets lists are up to date and if we haven’t spoken in a while, give the office a call! 505-835-6580.