Attorney Brian J. Murphy is an estate planning lawyer serving the northeast Connecticut region. Statistics are surprising when it comes to the number of couples who have neglected to prepare a will or broach the subject of estate planning with their lawyer, spouse or partner. According to recent statistics, 69 percent of Americans have seriously considered drafting a will yet failed to follow through. Only 25% of people have made any arrangements for their elder care. A whopping 95 percent of people say they haven’t enough financial know-how to create an estate plan on their own. Failure to plan may put your loved ones at risk.
Ask yourself this: Will your assets benefit the people you care about for years to come? Will they support future generations of your family? Or will your assets diminish through probate fees, taxes, health care costs and other losses? When you sit down to discuss your estate planning needs, you will be sitting down with a knowledgeable professional who keeps your best interests in mind. Attorney Brian Murphy will listen to you carefully as you describe your family and financial situation, and what you would like to accomplish with your estate plans. Then our team will create the necessary documents needed to achieve your goals.
Estate Planning isn’t just for retired or the wealthy. Failure to make an estate plan now may put your estate into the hands of the court and your dependent children and spouse (or partner) at risk. By creating a will or trust, you ensure your assets are properly distributed to your family or loved ones after you die. We know this can be an uncomfortable topic, but it is an important one. Estate planning is a way to ensure your family will be taken care after your passing. For couples who live together, own property together, and/or have children together who may not be married to each other, the laws and tax system may not offer the same protections as it offers those who are married. So just what paperwork is needed in the estate planning process? Generally, your wishes must be stated in a series of documents. These documents usually include a will, a living will, and possibly a power of attorney. Attorney Murphy can also discuss more complex needs, such as a special needs trust, planning for nursing home care, and other issues. When a significant life event occurs – such as a marriage, a child being born, or a divorce, we can amend your will and other estate documents to fit these changes.
Without a will or living trust, the court will make the decisions on who gets what and when. Don’t risk the well being and safety of your family should you meet an untimely death. If you would like more information about our estate planning services, feel free to reach out to us today at 860-643-3021 today!