Law Firm Sees Surge in Estate Planning Activity

While the spread of the coronavirus has had significant impact on most businesses, attorneys at the law firm of Waltz Palmer & Dawson have received an increasing number of calls regarding estate planning elements such as wills, trusts and powers of attorney.

"We are living in an extremely uncertain time with many questions, fears and unknowns for all of us," said Partner Mildred Palmer. "We may not all have the knowledge and training to be on the front lines of this pandemic, but people are asking about steps they can take to protect themselves and their families in case of a personal health crisis. Now is a good time to make some decisions and take control of what you can control."

Some of the activity was spurred by the new SECURE Act that went into effect on January 1, and the new Illinois Trust Code, also effective on January 1 of this year.

"These new laws require changes to beneficiary designations and trust documents in many existing estate plans, particularly older ones," said Palmer. "We were in the process of reaching out to many of our clients when the pandemic began peaking."

Senior Associate Monica Gurgiolo is finding that with so many health and economic concerns, many people are reaching out to establish or update legal documents to protect their families in uncertain times.

"Having current, legally enforceable, powers of attorney, advance directives and other estate planning documents stating your intentions and wishes in case of a health emergency or death is more important than ever right now," said Gurgiolo. "These documents are of vital importance to you, your family, and the medical professionals providing you with care, should you have an emergency or fall ill during this time."

Further, with Probate and Guardianship Courts currently closed, Gurgiolo points out that without durable powers of attorney and funded revocable living trusts there may be no way to access funds to pay bills and obtain decision-making authority to provide care in the event of disability or death, noting "These documents provide family members with the legal authority to take appropriate action without court involvement."

As an essential business under COVID-19 guidelines, most law firms continue to function, albeit under restrictions and social distancing guidelines. Palmer and Gurgiolo also pointed out that temporary rules in Illinois now allow for these types of documents to be witnessed and notarized electronically, foregoing the need to do so in person during the stay-at-home period.

"Illinois residents can now execute wills, trusts, durable Powers of Attorney and other legal documents from the safety of their own homes through the use of two-way audio-visual communication, together with e-mail and/or fax," Palmer said. Palmer cautioned, however, that the technology and rules that apply to these virtual signatures are new and cumbersome and may not work for many people. Both Palmer and Gurgiolo urge caution when considering these.

For those without suitable technology, or who are uncomfortable using it, the actual signing of documents can still be done in an attorney's conference room, with minimal people involved and appropriate safety measures in place, or in the parking lot of an attorney's office with witnesses and notary public standing at a safe distance while the person signs, or even at home or another location while the witnesses and notary public stand outside and watch through a window.

"We know many people are concerned at this time, so we encourage them to call their attorney and discuss options for getting critical documents drafted or revised under the current shelter-in-place conditions," said Palmer. "Like everyone else, our industry is adapting, but providing security is a valuable contribution at this time."

For more information, contact Mildred Palmer or Monica Gurgiolo at 847-253-8800 or mpalmer@wpdlegal.com or mgurgiolo@wpdlegal.com.