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You want to be sure that the people you love will be financially secure after you’re gone. 

You want to be sure that your wishes and intentions are understood and honored when you pass. 

You want to know that you’ve taken the necessary steps to bypass tedious legal processes that are sure to compound the grief of your loved ones. 

Not sure where to start in order to make these measures a reality? When you work with an experienced Pearland wills and trusts lawyer like Michelle E. Murphy, you can be assured that you are creating a comprehensive estate plan that will secure your assets for your family and give you control over essential aspects of your end-of-life circumstances. 

Reach out to Attorney Michelle E. Murphy to schedule a free consultation and learn how she can help you create legally compliant wills and trusts that are tailored to your unique needs. 

Pearland Wills & Trusts Lawyer

What Is A Will?

A will is a legal document that outlines your intentions for the distribution of your assets, designates beneficiaries for inheritance of your wealth, and names successors for essential roles, such as guardians for your children or business runners for your small business. Your will also designates your executor, who will be tasked with ensuring that the terms of the will are carried out when you pass. 

There are multiple types of wills, and not all of them are concerned with affairs following your death. A living will, for example, outlines your medical wishes in the event you are too incapacitated to make healthcare decisions for yourself. 

Some of the several types of wills include:

  • Last will and testament: Also known as a simple will, this type of will stipulates who will inherit your assets.
  • Living will: Serves as a healthcare directive, designating your wishes for a variety of medical incidents and end–of-life care.
  • Joint will: Specifies the wishes of two individuals, usually a married couple, in order to ensure that their decisions regarding their joint assets are in alignment.
  • Pour-over will: When you pass away, this will automatically transfers named assets into an already established trust.
  • Holographic will: Hand-written wills that are not signed by witnesses.

These are a small sampling of wills that are available. In order to determine which type of will is the most relevant to you and your needs, look to the guidance of our Pearland wills and trusts lawyer.

What Is A Trust?

A trust is a powerful tool when established in combination with your will. Trusts hold assets designated for your beneficiaries. Essentially, when you put your assets into a trust, you no longer own them and they will legally transfer to your beneficiary according to the terms of the trust. Your trust will allow your assets to reach your beneficiary without having to go through the tedious, stressful, and often expensive process known as probate. Establishing the right kind of trust can also have various tax implications, which is why it’s important to discuss these details with our Pearland wills and trusts lawyer. 

As with wills, there are several different types of trusts, including:

  • Revocable trust: These types of trusts hold assets for yourself or your beneficiaries, and you can adjust the terms of the trust or the assets it holds throughout your lifetime.
  • Irrevocable trust: These trusts are similar to revocable trusts, but the key difference is that you cannot change this trust once it is established.
  • Special needs trust: This type of trust allows you to designate assets for a person in your life with special needs, and it will allow them access to needed resources without jeopardizing the terms of healthcare programs such as Medicaid.
  • Charitable trust: This trust secures assets for charitable organizations of your choice.

These are only a few examples of the trust options available to you. When you work with Attorney Michelle E. Murphy, you will receive professional guidance in order to determine which trusts are best for you and your estate planning goals. 

Our Seasoned Pearland Wills And Trusts Lawyer Can Help

Michelle E. Murphy’s practice is aimed at helping people, especially families, and making a difference in the lives of her clients. Her experience in creating comprehensive estate plans, including establishing wills and trusts, can give you the peace of mind you need as you age. Reach out today to schedule a free consultation and learn how she can help you create wills and trusts that are uniquely tailored to your needs. 

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Ms. Murphy made sure to use all of her resources and did everything legally possible to help me. She fought harder than other lawyers out there and found ways to make everything work in my favor. I really appreciate how she helped me and made me feel at ease under the worst circumstances. I recommend her highly.

Roxanne

The Law Office Of Michelle E. Murphy

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