Have you ever heard of “planned obsolescence?” It is the idea that certain products are purposely designed to be replaced within a short period of time. Sometimes the product breaks and cannot be repaired, while other times the product simply goes out of fashion. Cell phones are a common example. The longer you have a […]
Are you more familiar with the British line of succession than Mississippi’s probate laws? If so, you are not alone. The tabloids in the grocery store checkout lanes do not often discuss who inherits what when someone dies without a will, while gossip about the royals are their bread and butter. However, anyone who has […]
Aretha Franklin had a homegoing fit for a queen. 100 pink Cadillacs lined the road in front of the church. In the week leading up to the funeral she wore multiple outfits, leading Former President Bill Clinton to joke during the funeral that he was happy that her casket was still open when he arrived […]
Grandma always said that well mannered people don’t talk about money. According to her, doing so is tacky and in poor taste, but it is something we do every day. And it is something we wish more people would do, both with their family members and with an experienced estate planning attorney. Everyone Needs An […]
One of the last things we discuss with all of our estate planning clients before they head out the door is the importance of keeping the various documents that make up their estate plan in a safe place. Many respond by telling us they plan to keep everything in an actual safe. While this may […]
With extreme wealth accumulated, one would assume that celebrities would take steps to protect their estates. But think again: Some of the world’s richest and most famous people enter the pearly gates with no estate plan in place, while others have made estate planning mistakes that tied their fortunes and heirs up for years in […]
In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people — especially those with larger estates — financial planners recommend trying to keep property out of probate whenever possible. That being said, the probate system was ultimately established to protect the property of the deceased and his/her […]
When you pass away, your family may need to involve the chancery court to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) in only your name. Although having a will is a good basic form of planning, a will does not avoid probate. Instead, […]
While it is an honor to be named as an executor of a will or estate, it can also be a sobering and daunting responsibility. Being an executor (sometimes called a personal representative) requires a high level of organization, foresight, and attention to detail to meet responsibilities and ensure that all beneficiaries receive the assets […]
If you’ve been appointed an executor of a loved one’s estate, or a successor trustee, and that person dies, your to-do list such as planning the funeral, coordinating relatives coming in from out of town and (eventually) meeting with a qualified probate lawyer, can be quite overwhelming. First and foremost, take care of yourself during […]
