Prepare for worst-case scenario

This may sound morbid, but with a pandemic underway, it’s important to prepare or update the following paperwork:

• A will: A basic will lays out what happens to your assets upon your death, and how your children will be provided for. Depending on where you live — or how wealthy you are — you may want to set up a revocable trust; doing so can help you avoid probate.

• A living will (or health care directive): This specifies what kind of care you do or don’t want, such as resuscitation, a feeding tube or mechanical ventilation — in case you’re ever unable to voice a preference.

• A health care proxy (or a durable power of attorney for health care): Since a living will can’t cover every possible situation, a health care proxy designates a person you trust to make medical decisions for you (based on your preferences and directives), should you be unable to do so yourself.

• A HIPAA release: Per the Health Insurance Portability and Accountability Act of 1996, this authorizes health care professionals and insurers to release protected information about your health to whomever you designate.

• A durable power of attorney: This authorizes someone of your choice to make financial decisions on your behalf, if and when you’re unable to do so yourself.

• Beneficiary designations on financial accounts: Set your beneficiaries and review them occasionally. If someone falls out of your life — due to death, divorce or disagreement — but you fail to remove them as a beneficiary, they could end up with some of your assets anyway.

If you prepared the paperwork above long ago, it can still be worth updating so that your documents are fresher in the eyes of the legal system. Let the coronavirus be the kick in the pants you need to get your affairs in order, to protect yourself and your loved ones. And consider nudging your loved ones to get their own affairs in order, too.