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CORONAVIRUS: Impact to Your Wealth, Health and Happiness

Estate Planning, Estate Planning Blog, Family, Healthcare

While it’s still hard to tell how the Coronavirus will impact us in the long term, it’s become a subject that’s impossible to ignore. While some are advocating we prepare to be quarantined, potentially for months, others are saying the virus is nothing more than a common cold. The World Health Organization takes a more middle-of-the-road approach, advising we take precautions without becoming alarmed.

My approach, as always, is to empower you to make informed decisions for you and your family. Here are some resources to stay up to date on the virus  so you can make decisions based in fact as you work to keep yourself and your loved ones healthy.

For your reference, here’s a link where you can track infection and death rates over time. As you can see, the numbers are increasing daily. Most of the people who die from coronavirus are over the age of 60, and people who have chronic illnesses like heart disease and diabetes have a 5–10% higher chance of dying from it.

As of March 11, 2020, approximately 125,000 people had been infected with the Coronavirus, and nearly 4,600 have died. It’s being reported that symptoms are similar to a bad respiratory cold, with fever and cough. Taking precautions now to up your intake of immunity-boosting supplements, the same way you might if there was a cold circulating in your community, might help.

Safety Tips:

  • Wash your hands, more than you usually do, and consider wiping down surfaces – don’t forget your phone – with sanitizer wipes.
  • Have emergency food, water, and medical supplies prepared (always a good idea).
  • Practice breathing through your nose instead of your mouth. Nose hairs offer natural protection from airborne viruses. This is especially important for those living in urban areas.
  • Consider avoiding crowded places like airplanes, churches, theaters, etc.
  • Make sure you are drinking plenty of water.
  • If you smoke, it’s an especially good time to quit to protect your lungs.

In the event you or a loved one do get sick and need to go to the hospital, it’s important to prepare a list of your needs. Include your preferred hospital, your primary care doctor and any specialists, food allergies and preferences, and supplements and medications you take. Also indicate any procedures you desire or don’t desire. Additionally, you should name the person or people authorized to make healthcare and financial decisions for you if you cannot make them for yourself. We can help you prepare these documents in our office, either to take precautions against coronavirus or for any other reason. Please get in touch if you need help with any of this.

Dedicated to empowering your family, building your wealth and defining your legacy,

March 11, 2020/by CaliLaw
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5 Tips to Get Legally and Financially Prepared for a Local Coronavirus Outbreak... Are You Clear About How Your Parents Estate Plan Will Impact You?
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