Estate Planning Weekly COVID-19 Update – 09.02.20
This weekly COVID-19 update is brought to you by our Chambliss Estate Planning team. We are sharing articles, legal developments, external resources, and tips for coping during these uncertain times. Each weekly issue will cover various trends of vital interest in the world of estate planning, elder law, and special needs planning. To be added to our email list, please subscribe.
While many of us are working remotely at present, we are also collaborating to implement creative and resourceful solutions to meet the needs of our clients in this uniquely challenging time.
We are doing planning consultations, document signings, care coordination, drafting of documents, and all related work—in sum, all the types of work we usually do. We have generally moved most meetings to either Zoom video conference or audio conference calls. In person document signings at our office are generally being done abiding carefully by social distancing protocols. Moreover, the governors of Tennessee and Georgia have signed executive orders which enable “virtual document signings” for a limited period of time.
As of August 28, Tennessee Executive Order No. 61 extended remote notarization and remote witnessing of documents through September 30, 2020. As of August 31, Georgia’s Executive Order 08.31.20.01 renewed the Public Health State of Emergency through October 10, 2020, which allows virtual notary and witness assistance with the stipulation that all parties must be in the state of Georgia at the time of signing.
Please do not hesitate to contact us if we can assist you with your elder law, special needs planning, or estate planning needs.
— Dana, Greg, and your Chambliss team
Save the Date: Upcoming Estate Planning Webinar
Exploring Solutions to Address Potential Tax Law Changes
The November elections are just around the corner, and possible big changes in federal estate and gift tax exemptions and options continue to be on the horizon. In this timely webinar, Dana Perry and Greg Willett will discuss proposed changes to estate tax laws, planning steps to take prior to any change of law, as well as answer your questions. We’ll touch on a few potential solutions including the Spousal Lifetime Access Trust (SLAT) and dynasty trusts.
Date: October 7, 2020
Time: 12:00 – 1:00 PM
Stay tuned for additional details on registration information in upcoming newsletters.
How Will the Coronavirus Pandemic Affect Social Security?
The coronavirus pandemic is having a profound effect on the current U.S. economy, and it may have a detrimental effect on Social Security’s long-term financial situation. High unemployment rates mean Social Security shortfalls could begin earlier than projected…
Consider Putting Recipients’ Pandemic Relief Payments in an ABLE Account
Like millions of other Americans, recipients of Medicaid and Supplemental Security Income (SSI) have received or should soon receive a one-time $1,200 coronavirus relief payment from the federal government. And, if Congress can come to an agreement, a second round of economic impact payments will be coming…
Also Check Out…
Pfizer, Moderna’s Coronavirus Shot Rollouts Could Freeze Up, Experts Say, Citing Cold-Storage Needs
Drugmakers on the hunt for a COVID-19 vaccine have promised massive supply rollouts in the coming months if their candidates pass regulators’ scrutiny. But promises and results are very different things: for two highly touted mRNA-based shots, storage concerns could derail those plans. Click here to read more.
Fast, $5, 15-Minute, Easy-to-Use COVID-19 Antigen Test Receives FDA Emergency Use Authorization
Abbott announced that the FDA has issued Emergency Use Authorization for its BinaxNOW™ COVID-19 Ag Card rapid test for detection of COVID-19 infection. Abbott will sell this test for $5. It is highly portable, affordable, and provides results in 15 minutes. They will also launch a first-of-its-kind app to allow people who test negative to display a temporary digital health pass that is renewed each time a person is tested through their health care provider together with the date of the test result. Click here to view the official announcement and details.
Moderna Says Its Coronavirus Vaccine Shows Promising Results in Small Trial of Elderly Patients
Moderna’s potential coronavirus vaccine generated a promising immune response in elderly patients in an early stage clinical trial. The company tested its vaccine on 10 adults between the ages of 56 and 70 and 10 elderly adults aged 71 and older. Click here to view more details on the vaccine trial.
Dow Closes More Than 200 Points Lower But Still Notches Best August Since 1984
Stocks were mixed on Monday as the S&P 500 and Dow Jones Industrial Average wrapped up their best August performances since the 1980s. The Dow rallied 7.6% this month for its biggest August gain since 1984. The S&P 500 rose 7% month to date for its best August performance since 1986. Click here to read more.
Coping With COVID-19
Spotify Is Developing a ‘Virtual Events’ Feature
The coronavirus pandemic has had a significant impact on the music industry as artists who relied on live performances and concerts suddenly had the rug pulled out beneath them, impacting their ability to generate income.
Image credits: stockcam / Getty Images
An upcoming feature in development at Spotify could help turn things around by again connecting artists with their fans through ticketed live music events. This time, however, instead of helping fans find live concerts, as in the pre-pandemic days, the new feature will alert fans to the artist’s upcoming “virtual events.” Click here to read more on this upcoming feature.
Residential Evictions on Hold Through Year End Following the CDC’s New Agency Order
Under instructions from President Trump, the Centers for Disease Control and Prevention has released an agency order that will substantially prohibit residential landlords from evicting tenants through the remaining months of 2020 in an effort to limit the spread of COVID-19…
Our Chambliss team continues to monitor legal developments in connection with the COVID-19 pandemic. Please contact Jim Catanzaro, Justin Furrow, or your relationship attorney if you have questions or need additional information.