Although you can put your home in a trust on your own, doing so without legal guidance creates a real risk that the trust will not function the way you expect. Mississippi has specific rules for trust documents and property transfers. If the deed or trust language is incorrect, your family may...
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Estate planning is about more than deciding who receives your assets; it’s about protecting what you’ve built, reducing taxes, and ensuring your wishes are carried out with minimal legal complications. One of the most powerful tools available for Mississippi families is the irrevocable trust. At Palmer & Slay, PLLC, we help...
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- Key Takeaways
- When someone dies without a will in Mississippi, a formal court process called a determination of heirship can establish who the legal heirs are and allow assets to be transferred.
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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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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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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Popular singer-songwriter Jimmy Buffett died in 2023. Many people were curious about how much Buffett might have been worth, but the news about his estate plan provided very little information. What we do know, however, is that Buffett’s estate relied heavily upon trusts. And while it’s no secret that wealthy and famous...
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Losing a loved one brings emotional challenges, and handling their estate can add to the stress. If you’ve been named as an executor, you may be wondering how to begin managing their affairs. Letters Testamentary provide the legal authority to carry out this responsibility, allowing you to settle debts, manage assets, and...
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An offshore trust can offer strong asset protection and added privacy, but it is not the right solution for everyone. Whether it makes sense depends on what you are trying to protect, where your assets are located, and how much complexity you are prepared to manage.
For some Mississippi...
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Having estate planning goals that match your spouse is a good thing. Couples need to be on the same page when it comes to selecting a guardian for minor children, handling end of life care, and sharing their wealth with family members.
But there is a point where...
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