What is Estate Planning & When Should You Start Thinking About It?

Published on
October 9, 2023
Written by
Angel Murphy Esq.
Category
Videos

🔒👨⚖️ Today's Murphy Law Monday: What is Estate Planning & When Should You Start Thinking About It?

🏛️ Understanding Estate Planning: It's for Everyone!

Estate planning is not just for the wealthy. There's no specific age or income bracket that dictates when you should start thinking about it. In fact, anyone with assets they want to pass on should consider estate planning.

💰 What to Consider:

  • Whether you have a bank account, real property (like a house), valuable possessions, or even a vehicle, you should think about designating who will inherit these assets.
  • Appoint a trusted personal representative to ensure your wishes, as outlined in your will, are carried out effectively.

⚖️ Legal Documents to Include:

  • Create an Advanced Medical Healthcare Directive to designate someone who can make medical decisions on your behalf if you're unable to do so due to a mental or physical disability.
  • Set up a Power of Attorney to authorize someone to manage your financial matters in case you become incapacitated.

🔑 The Key Message: Estate planning is a crucial step after life-changing events like custody changes, divorce, or family law issues. Neglecting or improperly identifying individuals in your estate plan can have significant implications.

Allow The Murphy Law Firm to work in your favor!

Contact my office today!

☎️ 240-493-9116

🌐 www.amurphylegal.com

➡️ https://Bookme.name/amurphylegal//

Angel Murphy

Personable. Passionate. Persistent.

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