Estate Planning Weekly COVID-19 Update – 09.22.20
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.
Join Us on October 7 for an 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
Registration is required for access to the virtual event on October 7, 2020.
Chattanooga and Surrounding Areas – The Gateway to Adventure
“Today is your day! Your mountain is waiting, so… get on your way!” – Dr. Seuss
The Chattanooga area is a perfect gateway to outdoor adventures waiting to be explored. Whether you are a born and raised local, young adult like Rachel Ragghianti, or a recently moved to the area and older adult like myself, Mae Shelley, there are always new places to explore.
This has been the summer to enjoy outdoor activities while still social distancing, and Rachel and I are pleased to share some of our summer activities.
Caving – (Rachel and Mae)
Rachel and I visited Stephen’s Gap Cave in Woodville, Alabama, which is only an hour and a half drive from Chattanooga. After a 1.5 mile easy hike to the cave entrance, we were rewarded by the view of the 143-foot pit with a spectacular waterfall inside. Stephen’s Gap is one the most photographed wild caves in North America. The bottom of the pit can only be reached by vertical rappelling through a keyhole entrance at the top, requiring safety equipment and vertical caving skills. However, there is a walk-in entrance with an excellent view of the cave’s waterfall, and the opportunity to observe those who are rappelling into the cave. You must wear a safety helmet while inside the cave, and a headlamp is handy for lighting as you navigate through the cave. For more information on Stephen’s Gap Cave and other caves to explore in the area, go to www.saveyourcaves.org.
Kayaking and Stand Up Paddleboarding – (Rachel and Mae)
Getting on the water is a great way to cool down on a hot summer day and even get a little exercise while you are at it. There is an abundance of waterways in this area to enjoy; from the calm waters of the Tennessee River flowing through downtown, Chickamauga, and Harrison Bay, to the creek paddles along the Conasauga River, the lower Ocoee River, and Hiwassee River. The trees and surrounding flowers make for a relaxing ride floating down the waterways. If you don’t own your own kayak or paddleboard, there are locations in the area from which to rent them. Always have your lifejacket, protective sun gear, and a plan of where you are putting in and taking out.
Snorkeling – (Mae)
Chattanooga is surrounded by rivers and creeks, but many people have not explored what is under water besides sport fishing. I had the privilege of meeting Casper Cox, a local expert and author of “Snorkeling Hidden Rivers of Southern Appalachia.” He showed us how to find clear water areas along the rivers for snorkeling. Armed with only a mask, snorkel, and a curious mind, we spent several afternoons exploring easily accessible shallow waters finding diverse aquatic life I never knew existed. The Conasauga River flows through southeast Tennessee and northwest Georgia and has 76 known species of fish, many of them unique to the river and found nowhere else on earth. The Hiwassee River offers its own species of fish quite different from the Conasauga River, including the elusive hellbender salamander which grows up to 24 inches long (two feet)! Always be mindful of safety in the water, especially on the Hiwassee River, as the Appalachia Powerhouse releases water from the damn upstream; be sure you are out of the river at the appropriate time so you are not swept downstream.
Click Read More below to learn more about Rachel and Mae’s great adventures and tips on estate planning.
Estate Planning Resources
When Should You Update Your Estate Plan
Once you’ve created an estate plan, it is important to keep it up-to-date. You will need to revisit your plan after certain key life events, including marriage, the birth of children, divorce or the death of a spouse, and a significant increase or decrease in assets. Here’s why…
Also Check Out…
Tennessee to Relax Visitation Rules at Nursing Homes, Other Senior Living Facilities
Tennesseans who live in nursing homes or other long-term care facilities could be reunited with their loved ones in person as soon as October 1, according to new guidelines from the Tennessee Department of Health. Click here to read more.
Visitors Now Allowed at Georgia Nursing Homes
Gov. Brian Kemp signed his a coronavirus order that allows visitors to return to nursing homes. The order allows for a three-phased system for nursing homes that is based on community spread, Coronavirus testing, and the length of time that the facility has gone without a new case. Click here to read more.
CDC Says U.S. Should Have Enough Coronavirus Vaccine to Return to ‘Regular Life’ by Third Quarter of 2021
CDC Director Dr. Robert Redfield told a Senate panel he expects vaccinations to begin in November or December, but in limited quantities with those most in need getting the first doses, such as health care workers. He said it will take about “six to nine months” to get the entire American public vaccinated. Click here to read more.
5 Things Therapists Wish You Didn’t Do During Video Sessions
When the pandemic began, psychotherapy sessions moved from in-person sessions in an office to virtual ones online. Guy Winch, Ph.D. has spoken to many psychotherapists over the past months, and most agree that working with patients via video has provided an interesting peek into their lives (and perhaps into theirs). Here are the do’s and don’ts of five situations therapists have encountered that they (A) never had to deal with during face-to-face sessions in the office, and (B) wouldn’t mind not encountering again.
Moderna Expects to Know If Its Coronavirus Vaccine Works By November
Moderna should have enough data from its late-stage trial to know whether its coronavirus vaccine works in November, said CEO Stephane Bancel. Moderna is one of three drugmakers backed by the U.S. in late-stage testing for a potential vaccine. Click here to read more.
Health Care Workers Account for Around 14% of Coronavirus Cases
Though health workers represent less than 3% of the population in many countries, they account for around 14% coronavirus cases reported to the World Health Organization. Click here to read more.
Some Heart Societies Agree on Cautions for COVID-Myocarditis Screening
A call for professional societies to denounce routine post-COVID cardiac MRI (CMR) scans for asymptomatic people got a couple to do so, albeit without any formal published statements or guidance. Doctors are concerned about the long-term COVID manifestations. Click here to read more.
Coping With COVID-19
Chattanooga Therapeutic Recreation Services
The Therapeutic Recreation Division of the Chattanooga Youth and Family Development Department is offering several different types of virtual programming while working to navigate the world of social distancing. For full details on the programs offered, view their September newsletter.
Art Pals – New!
Ditch the social media post for the literal post!
What: This is a pen pal style program with an artistic twist where participants are matched with an Art Pal peer to correspond via snail mail and share artsy creations! This is a great opportunity to build friendships through art and stay connected. Access to various art ideas and resources will be provided. All artistic ability welcomed!
Who: All ages!
Contact: If interested in participating or learning more, please email firstname.lastname@example.org or call 423.667.5214
Virtual Hiking Club
Join us as we virtually explore the world! Through videos, interactive websites, special guests, and fun facts in our meetings, there are no limits to where we can go – together! We travel between National Parks of the US and areas of interest in other countries to places such as Machu Picchu, The Grand Canyon, Iceland, Arches National Park, K2, and more! Explore on your own with video tours we send out and join us on Zoom to discuss the tours every Tuesday at 3pm! We occasionally have special guests from across the globe attend to give us the inside scoop! These hikes are accessible to all!
Who: All ages, individuals with intellectual and/or physical disabilities
When: Zoom meetings are Tuesdays, weekly – ongoing
Register/Contact:email@example.com or 360.431.1717
Source: Chattanooga Therapeutic Recreation Services
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.