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WHAT IS AN ESTATE:

AND WHY SHOULD
YOU PLAN FOR IT?

An estate is defined as all the money and property owned by a particular person, especially at death. A legacy is defined as a gift by will especially of money or other personal property; or a bequest. Don’t leave an ESTATE. Leave a LEGACY. One size does not fit all, and we can help you find the simplest solutions for your situation. We are experts in this type of planning and will assist you in creating a custom plan that is reviewed by our attorney.

No one intends to leave their family the headache, costs, court dates, and probate often associated with an unexpected passing of a loved one that did not plan for this final transition of life. Estates that get tied up in probate court are often due to a lack of simple planning techniques. The first step is to call us and communicate your situation and your wishes. We will be listening.

ESTATE PLANNING MYTH:

“IT’S NOT FOR EVERYONE”

The myth that estate planning is only for the super wealthy and can only be accomplished with an expensive trust and sophisticated strategies is false. What you do or do not know about estate planning can hurt you and your family. This is an important financial step for everyone that has a family, loved ones or a charity.

At Murphy Wealth Management. we are trying to lift this veil and help all our clients create a legacy for their family by completing some basic estate planning for an affordable price. There is simply no reason not to plan ahead by drafting an estate plan for your family—it is one of the most loving things you can do for them.

Estate Administration Services

Although we do provide Estate Administration services, it is costly, time consuming, and emotionally exhausting for all involved. Instead, we focus on providing our clients insight concerning their current situation and explain how to accomplish a state-compliant transfer of assets to their family in the easiest and least expensive way possible. All required documentation and filing is handled right here at MWM with the supervision of our attorney. We try to make a daunting process simple and allow our clients to create a legacy for their families instead of a mess.

Trusts or T.O.D.D.s

Everyone’s situation is different, but we have found some consistent themes in Middle America when it comes to estate planning. For example, if your house is your largest asset and you want to exclude that asset from your estate to avoid a probate situation for your family, a trust may not be the answer. Unless your financial situation is extraordinarily complex, or contains numerous directives, a trust may be overkill for your situation.
You could accomplish your intent with a simple T.O.D.D (Transfer On Death Deed) with MWM for a fraction of the cost. It is only for Indiana residents, but a perfect alternative solution that we offer to our clients instead of an expensive trust. This is just one example of an option that works as intended, but seldom used because it lost the popularity contest to the glitzy trust.
That said, if your situation is complex, we can prepare trusts, too.

Estate & Trust Tax Preparation

Estate matters affect everyone. By taking proactive steps today, you can ease the way for your heirs during a very difficult time. We can work with your legal counsel to help you to structure your estate and trusts to minimize taxes and ensure the smooth transition to your heirs. We are available to handle all estate and trust tax-related matters.

Portfolio Management / Investing

Fee-based, no commission portfolio and investment management services.

Retirement Plans for Business

Setup and management of 401(k) and similar retirement plans based on your firm’s structure.

Small Business Advisement

Tax planning and preparation, advisory services and more for your business.

Retirement Planning

Helping create lifetime retirement income that will last from accumulated assets.

Wealth Transfer

Insurance policies offset financial risk and offer multiple benefits and options.

Estate Planning

Our licensed attorney will formally draft your written plan for wealth transfer.

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