How the Pandemic Affected Estate Planning

The COVID-19 pandemic significantly changed many aspects of life, including how we think about estate planning. Today, the pandemic itself is now largely considered behind us, and with mortality less a daily concern, the number of adults who are prioritizing wills has started to decrease. Even still, the effects of the pandemic have reshaped priorities and decisions for individuals and families. At Ozarks Legacy Law, we’ve seen firsthand how these shifts have influenced estate planning and how they can benefit you moving forward.

A Renewed Focus on Estate Planning

The uncertainty of the pandemic encouraged many people to take a closer look at their plans for the future. Suddenly, estate planning wasn’t something to put off—it became an essential part of protecting loved ones. Key trends included:

• Younger Generations Taking Action: Millennials and Gen Z started creating wills and establishing powers of attorney, a step often reserved for older generations pre-pandemic.
• Increased Awareness of Healthcare Decisions: Many added healthcare directives and living wills to their estate plans, ensuring their wishes were clear in medical emergencies.

What Changed in Estate Planning Post-Pandemic?

The pandemic underscored the importance of having a comprehensive estate plan that reflects current needs and priorities. Changes we’ve observed include:

1. Digital Accessibility: Virtual consultations and online tools have made estate planning more convenient and accessible.
2. Emphasis on Family Security: Individuals are more focused on safeguarding their families’ financial and legal stability.
3. Inclusion of Contingency Plans: People are now more likely to consider backup beneficiaries and alternate trustees.

Common Additions to Post-Pandemic Estate Plans

To better prepare for the unexpected, many people updated or expanded their estate plans to include:

• Living wills and advance healthcare directives
• Durable powers of attorney
• Trusts to manage and protect assets
• Instructions for digital assets, such as online accounts and cryptocurrency
• Charitable giving strategies

Lessons Learned: Estate Planning Is for Everyone

One of the most significant takeaways from the pandemic is that estate planning is for everyone, not just the wealthy or elderly. While adults aren’t approaching estate planning with the same fervor as they were in 2020 and 2021, many people learned how important it is to have a plan in place at any age. Not only does it provide peace of mind, but it also ensures that your wishes are honored, no matter what happens.

Start Planning Today with Ozarks Legacy Law

The pandemic may be over, but the lessons it taught us about preparedness and family protection remain. At Ozarks Legacy Law, we specialize in creating personalized estate plans tailored to your needs and goals. Don’t wait for uncertainty—contact us today to start planning your estate and securing your legacy. Take the first step toward peace of mind. Call or visit Ozarks Legacy Law today.