Jersey Village, TX Estate Planning Lawyer

Michelle E. Murphy has over 20 years of experience creating comprehensive estate plans individually tailored for the needs of her clients. You can reach out to her to schedule a free consultation and learn how she can help you make estate planning decisions that will be beneficial to you and your family. 

Do I Need An Estate Plan?

Perhaps you’re thinking to yourself that you don’t need an estate plan–maybe you’re young and healthy, or you don’t have much money, or you have few personal attachments. Surely an estate plan isn’t something you need, right? Well, think again. 

Estate plans can benefit everyone! You surely have wishes that you want honored if you are incapacitated or after you pass away, which can happen at any time–tomorrow is not promised to anyone. If you have any possessions whatsoever, you should have a say in how they are distributed. Even if you have nothing you want to leave behind and no one for whom you wanted to provide, you can still be personally benefited by creating an estate plan, as there are certain elements of estate planning that can address your medical care if you are ever incapacitated. 

Therefore, everyone over the age of 18 can benefit from having an estate plan. The elements of your personal estate plan will depend entirely on your individual needs, but working with our established Jersey Village estate planning lawyer can help you determine what shape your plan should take.

How Can A Jersey Village Estate Planning Lawyer Help Me?

Now that you understand why an estate plan is essential, you might be wondering what options are available to you. There are a variety of accommodations you can make with an estate plan that include, but are not limited to:  

• Wills: There are many different types of wills, including the traditional last will and testament that allows you to leave assets for your beneficiaries. If you are married, you and your spouse might want to consider a joint will so that you are aligned on the allocation of your assets.

• Trusts: As with wills, there are different types of trusts that you can choose based on your particular needs. Having a trust ensures that your assets will reach your beneficiaries without having to go through the taxing process known as probate.

• Power of attorney: When you combine power of attorney with a living will, you can ensure that your medical decisions will be understood. A living will allows you to outline your wishes for medical and end-of-life care, while power of attorney empowers a person of your choice to make medical decisions on your behalf.

• Medicaid planning: Medicaid planning is the process by which your estate planning lawyer helps you rearrange your assets so that you qualify for the government-funded medical assistance program known as Medicaid, which is your best option for affording nursing home care later in life.

• Estate tax planning: You can save your beneficiaries time and money by anticipating the taxes that your estate will owe and making accommodations for them in advance.

These are far from your only options when it comes to your estate plan, which is why it’s essential that you work with our experienced estate planning lawyer, who can get to know your estate planning goals and advise you accordingly. 

Michelle E. Murphy Has The Experience To Create Your Perfect Estate Plan

Michelle E. Murphy has been curating estate plans for countless clients with care and attention to detail for over two decades. She is available for meeting virtually and in person, and is dedicated to accommodating the needs of her clients. Reach out to schedule a free initial consultation and learn how she can help you create the estate plan that will best benefit you and your loved ones.