In this article, you will discover: Information you should be prepared to discuss with an estate planning attorney during your initial consultation. Questions you should be prepared to answer during your initial consultation with an estate planning attorney. What you should expect after your initial consultation with a Mississippi estate planning attorney. What Documents Should I Gather Before Meeting With An Estate Planning Attorney? For your first meeting, you don’t need to bring any documents. That first consultation is an opportunity to discuss your family health history, beneficiaries, income, and liability exposure. For future meetings, relevant documents to bring include real estate deeds, titles for other assets (such as vehicles), and financial account information. What Family And Financial Information Should Be Discussed During An Estate Planning Consultation? The value of your estate is not necessarily the most significant factor in estate planning. It’s only relevant to whether you will owe estate taxes, and for estate taxes to come into play, you would need a net estate value of at least $15 million. What Questions Should…Read More
In this article, you will discover: The purpose and importance of a healthcare directive in Mississippi estate planning. Who you should choose to make medical decisions on your behalf when you’re unable. Why a healthcare directive is an integral part of a comprehensive estate plan in Mississippi. What Is A Healthcare Directive Under Mississippi Estate Planning Law? A health care directive is a legal document outlining your instructions for how you want to be medically treated if you are in an incapacitated, unrecoverable, or uncommunicative state. It includes such decisions as: Whether you want to be maintained on life support When and under what circumstances you want life support discontinued Whether you want hydration, medication or nutrition provided, if life support is discontinued Whether you want to donate organs Why Is A Healthcare Directive An Important Part Of A Complete Mississippi Estate Plan? In the unfortunate event that you are unable to make life-and-death decisions, you have peace of mind knowing that someone you trust is designated to make those crucial decisions on your behalf,…Read More
In this article, you will discover: Who is responsible for managing your estate during probate administration in Mississippi. How debts and creditors are handled in the Mississippi probate process. The duties of an executor or estate administrator in Mississippi probate. How Does The Probate Process Begin In Mississippi Probate Courts? The overall probate process begins with the probate attorney's initial consultation with you regarding the loss of your loved one. The filing of a Petition to Open Probate initiates the legal probate process. Who Is Responsible For Managing A Mississippi Estate During Probate Administration? Any interested party can petition the court to open probate in the estate of a decedent. While the court is not bound to appoint any particular individual as administrator, it will typically appoint the nearest living relative unless there is an objection. In that case, the court will hold a hearing to determine the most suitable administrator. What Duties Does An Executor Or Estate Administrator Have During Probate? The estate administrator is legally charged with: Marshaling estate assets Identifying debts and creditors…Read More
In this article, you will discover: What the meaning of dying intestate is under Mississippi law. Who inherits when you die without a will in Mississippi. Whether unmarried partners or stepchildren have inheritance rights under Mississippi law. What Does “Dying Intestate” Mean Under Mississippi Estate And Probate Law? Dying intestate means passing away without a valid, legally binding will in place. Many state laws provide that if you pass without a will, your estate will be split equally between your surviving spouse and your children, if any survive you. While there is a common misconception in Mississippi that you don’t need a will, its primary purpose is to allow you to deviate from what the law dictates when you die intestate. For example, a will allows you to leave gifts to people or institutions other than your surviving spouse or children. It also allows you to leave disproportionate shares to your surviving spouse or children. Does A Will Allow Me To Bypass Probate? Another common misconception is that if you have a will, your estate…Read More
