How the COVID-19 pandemic transformed estate planning is a story that reflects a deeper shift in how we prepare for the unexpected. The pandemic reshaped nearly every aspect of daily life. From how we work to how we approach health decisions. Yet one critical area that often went unnoticed until it was urgently needed was estate planning. The suddenness of the crisis forced many people to confront their own mortality, leading to a significant rise in interest in wills, trusts, healthcare proxies, and other key estate planning documents.
Here’s a closer look at how the pandemic changed the estate planning process and what key lessons we’ve learned moving forward.
A Surge in Estate Planning Awareness
Before the pandemic, many individuals delayed estate planning, viewing it as something to take care of “later in life.” COVID-19 changed that thinking almost instantly. The fear of illness and hospitalization made people realize how important it is to have clear legal instructions in place for managing their assets, medical decisions, and the care of dependents.
According to Global Atlantic: “The pandemic has forced Americans to confront their own mortality, make difficult financial decisions and reassess the financial aspects of their lives.”
At Farrell & Grochowski, we received numerous urgent calls from clients who had never done any estate planning before. Many were deeply concerned that, if they were hospitalized, no one would have legal authority to act on their behalf. Others worried about what would happen to their assets or minor children if they passed away unexpectedly.
We also faced a significant challenge: once clients were in the hospital, attorneys were not allowed inside to help them sign documents. Fortunately, emergency orders allowed remote notarization, so we were able to deliver documents to hospitals and nursing homes and supervise signings via FaceTime or Zoom ensuring clients still had access to crucial protections.
Related: What Happens If You Die Without a Will in Connecticut?
The Shift Toward Digital Estate Planning
Social distancing made traditional in-person meetings difficult, pushing estate planning attorneys and clients to adopt digital tools. These included:
- Video consultations
- E-signature platforms
- Secure online document sharing
This made estate planning more accessible and efficient, especially for individuals with mobility issues or those living in different states. According to the American Bar Association, remote work and digital solutions have become permanent features in legal practice. Estate planning is no exception.
Revisiting Healthcare Directives and Powers of Attorney
One of the most important lessons from COVID-19 was the value of having up-to-date healthcare directives and powers of attorney. With hospitals overwhelmed and family visits restricted, many people faced difficult decisions without having the legal authority to act.
As a result, more clients prioritized:
- Healthcare proxies
- Living wills
- Durable powers of attorney
These legal tools ensure that your wishes are followed and that someone you trust is empowered to make decisions on your behalf if you’re unable to do so.
Rethinking Asset Distribution
COVID-19 caused many individuals to reassess how their assets would be distributed in the event of death or incapacity. The economic uncertainty during the pandemic led to an increased focus on:
- Retirement accounts
- Life insurance policies
- Investment portfolios
- Property and real estate
Some clients also added charitable gifts or legacy plans to support causes that mattered to them.
Digital Assets Enter the Estate Planning Conversation
With the rise of online banking, remote work, and digital communication, digital assets became a vital part of the estate planning process. More clients began asking how to include:
- Passwords and access codes
- Cryptocurrency wallets
- Email and cloud storage accounts
- Social media profiles
Without proper planning, these assets can become inaccessible. NAEPC – Journal of Estate & Tax Planning recommends leaving clear instructions for digital accounts in your estate plan to ensure they are properly managed and passed on.
Key Estate Planning Lessons from the Pandemic
Act Early
Procrastination can lead to serious legal and financial consequences. The pandemic showed us that estate planning isn’t just for the elderly or wealthy—it’s for everyone.
Keep Documents Up to Date
Life changes quickly. Review your estate plan regularly to reflect major life events like marriage, divorce, births, and changes in financial circumstances.
Use Technology
Remote planning tools make the process more convenient and secure, helping attorneys and clients stay connected and responsive.
Plan for the Unexpected
COVID-19 was a wake-up call. Natural disasters, health crises, and emergencies can happen at any time. Having a clear, flexible estate plan in place offers peace of mind.
Final Thoughts
The COVID-19 pandemic brought estate planning to the forefront in ways we couldn’t have predicted. It highlighted gaps, spurred innovation, and made it clear that having a plan isn’t just a luxury. It’s a necessity. At Farrell & Grochowski, we continue to support clients with personalized, proactive, and modern estate planning solutions.
By embracing digital tools, updating legal documents, and planning for both physical and digital assets, individuals can protect their legacy and ensure their loved ones are taken care of. No matter what the future holds.
