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FAs and Clients Rush to Prepare Wills, Trusts, Estate Plans

By Alex Padalka March 17, 2020

Concerns over the spread of the coronavirus have spurred financial advisors and clients to draft wills and estate plans.

“A number of clients and other advisors have asked us if we can prepare wills, trusts and other estate planning documents on an emergency basis and remotely for clients who are critically ill or unable to travel,” Marcia Wagner, Boston-based partner of the Wagner Law Group, says in a note to clients.

“Every attorney and paralegal, as well as many of our support personnel, can stay connected remotely and continue to provide services to clients, since we have, for many years, invested heavily in the technology that allows us to do this without interruption,” Wagner adds.

The firm, meanwhile, is practicing social distancing at their offices, avoiding handshaking, regularly wiping down surfaces and adhering to health officials’ advice, according to Wagner.

Additionally, the Wagner Law Firm has allowed all its staff to self-quarantine if they deem it necessary, but the offices will also remain open to in-person meetings, she says.

The coronavirus, first detected in the Chinese city of Wuhan in December 2019, has infected more than 174,000 people in 159 countries and territories, killing at least 6,684 as of Monday afternoon, according to Reuters.

In the U.S., at least 3,823 people have tested positive for the virus in 49 states, the District of Columbia and three U.S. territories, and at least 67 of those infected have died as of Monday afternoon, according to the New York Times.

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Tags:  Staffing and recruiting , Regulatory/legal issues , Estate planning , Special services , Behavioral finance

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