Creating a living trust is a crucial step in protecting your assets and avoiding probate — but the trust won’t be effective unless it’s properly funded. At Palmer & Slay, PLLC, we help clients in Brandon and throughout Rankin County understand exactly how to transfer their property into a trust so...
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- Medicaid generally won't take your home while you're alive, but Mississippi's Estate Recovery Program can file a claim against it after you pass away to recoup nursing home costs.
Choosing who will receive your assets after you’re gone is one of the most personal parts of estate planning. While it might seem as simple as naming a few loved ones, there’s a lot to think about, both emotionally and legally. At Palmer & Slay, PLLC, we’ve helped many families in Mississippi...
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Getting married marks the start of an exciting new chapter. While much of your attention may be on planning the big day, it's also a good time to think about your future—financially, legally, and personally. One of the smartest moves you can make is to begin your estate planning before the wedding.
Estate planning involves a multitude of legal instruments that help individuals prepare for and plan their legacies. Trusts are a major component of a comprehensive estate plan, and they fall into two categories: inter vivos trusts (which are created and exist during a grantor’s lifetime) and a testamentary trust (created as part...
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Whether you are just now considering putting together your estate plan, or it’s been a while since you made yours and you need to review and update it, you have plenty of options. From law firms to websites and even customizable forms you can download, there is no shortage of individuals and...
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Special needs trusts, also called supplemental needs trusts, provide support for beneficiaries in Mississippi who have disabilities and other functional limitations, while also preserving their eligibility for government programs. As with any trust, one of the most important considerations in creating a special needs trust is who will serve as its trustee...
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As we approach the mid-year mark of 2025, it’s important to assess one’s personal and family situations to determine if their estate plans are up to date. This is especially the case since new laws and regulations affecting estate plans may have gone into effect since the start of the year. Whether...
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Planning for a child’s future often means more than setting aside money in a savings account. Whether you’re a parent, grandparent, or other loved one, you may want to leave assets to a minor, but handing them a lump sum isn’t an option. That’s where a trust comes in. While a minor...
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Estate planning serves numerous goals, including determining how to distribute one’s assets after death, protecting wealth from creditors, preparing for potential incapacity, and providing for vulnerable loved ones. However, many people may also consider tax efficiencies during estate planning. An estate plan may focus on minimizing tax liabilities that could cut into...
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