2020 is a year that will go down in history. Who would have thought that a mere three months into the year, our lives, as we knew them would change drastically. It has certainly been a unique experience for us all.

Some of these changes have been good. We’ve learned to rely on technology a little more, and we’ve adapted to finding flexible ways to work and to communicate. Video conferencing has undoubtedly seen its use explode, and businesses continue to adapt to the new way of meeting clients and serving customers. Needless to say, computer screens and video cameras have taken a prominent space in what was once occupied with in-person interaction.

Flexibility is great, many of us wanted options. Options to not leave our homes and have to rush to the office are fantastic. Spending more time with family surely beats the additional time spent in bumper to bumper traffic or on public transit. For these things we are grateful.

Other things have been challenging. In our practice, we welcome all sorts of alternatives. From video conferencing to digital signatures or the accommodation of delivering paper documents, we are working with it all. That hasn’t made life all the easier, however, there is something to be said about the “in-person meeting.” Something about body language and the ease of jotting down ideas in the same room. Not to mention, the inability of some of our clients to transition into the digital world, or to set themselves up with video conferencing capabilities. Much time is lost in technical difficulties and the personal nature of discussing sensitive topics together in the same room is drifting. For practitioners and advisors, this has presented challenges. Delivering complicated ideas in a way our clients can understand and deciphering how to achieve our clients’ goals is what drives us. While technology has been helpful in some ways, understanding our clients, conveying ideas and ensuring they fully understand the nature of their affairs is perhaps suffering as a result.

While we hope for some sense of normalcy to reappear, we continue to strive for the standards of our professions. Perhaps a blending of both in-person and online communications is on the horizon. In the meantime, we will continue to adapt in the ways we can. All that being said, the reality of business shutdowns and government spending will undoubtedly have effects on our economy and on our future plans.  Low-interest rates have kept the real estate market afloat, but tax increases to make up for expenditures are looming. This is the time when having an advisor is important.

Despite the challenges, we must continue to rise to the occasion. Preparing yourself to be technologically proficient is key to maintaining a great life plan and great relationships. So, while we wait for things to slowly return to what they once were, we encourage everyone to prepare and to adapt. In the interest of our communities, we will do the same and we hope that this year has taught us the importance of preparation as well.

For assistance with your future plans, including estate planning and contingency planning, we’ll be here when you need us. Feel free to get in touch, we’re in this together.