At Palmer & Slay, PLLC, we understand that estate planning matters can be overwhelming. Thinking about what will happen after we are gone is never easy. When you come to us for your estate planning, probate, or elder law needs, you can be sure that we will approach your case with personal concern and legal excellence. We represent clients in Rankin County and throughout Mississippi. Contact Palmer & Slay, PLLC, today to learn more about how we can help you.
Discuss Your Elder Law or Estate Planning Case With a Rankin County Attorney
Estate planning is one of the most important ways you can protect your hard-earned assets and your loved one’s future. At Palmer & Slay, PLLC, we provide comprehensive estate planning services. After carefully listening to your goals, we will help you develop an estate plan that protects you and your loved ones. Your estate plan may be as simple as a carefully drafted last will and testament. In other cases, you may benefit from a trust-based estate plan. You can use many different types of trust to limit your tax liability and allow your beneficiaries to access funds immediately after your death.
Our attorneys have in-depth experience creating revocable living trusts, marital trusts, spendthrift trusts, special needs trusts, pet trusts, and more. Perhaps you’ve already created an estate plan, but you’ve experienced a life change such as a death in the family, divorce, or a financial change. We can help you update your estate plan with these changes in mind and help you evaluate your estate plan regarding tax liability. We can use many legal strategies to help clients diminish their tax liability and allow their loved ones to inherit more.
Probate and Administration
During the probate process, a probate judge will oversee the distribution of a deceased individual’s estate. If the deceased individual had a valid last will and testament, the probate court would supervise the distribution of assets to the beneficiaries named in the will. Many people name an executor in their last will and testament who will work with the probate court to oversee the distribution of the estate. When a person dies intestate, or without a will, the probate court will distribute his or her estate according to Mississippi intestacy laws.
The probate court is also responsible for addressing challenges to the validity of a person’s will. An individual may challenge a will by claiming it was made under undue influence. In other will contest cases, a person may challenge the will stating that it is not legally valid in Mississippi, or that the testator who wrote the will lacked the mental capacity to do so. Whether you are involved in a dispute over a will or trust, it’s important that you have an attorney on your side.
Similarly, if you have been appointed as an administrator or an executor after your loved one’s death, you may find the legal obligations overwhelming. Working with one of the attorneys at Palmer & Slay, PLLC can help you feel confident about your role as an executor while making sure that you are meaning all of your fiduciary duties. Perhaps you are a beneficiary and you have concerns about how the executor is handling the probate process. In that case, we can help you understand your legal rights and pursue action, when necessary.
Elder Law and Medicaid Planning
Preparing for the retirement years is more challenging than ever, and the cost of long-term care facilities has skyrocketed. The majority of retirees will need some type of long-term care in the future. Working with an elder law attorney can help you prepare for the possibility of long-term care while protecting your retirement funds. Our attorneys can help you protect your assets from lawsuits, predatory lenders, and state taxes.
We can also help you draft important legal documents related to end-of-life decisions, such as an Advance Healthcare Directive, a health care power-of-attorney, an organ donor form, and more. One of the most important services we offer is to help retirees plan for long-term care while remaining eligible for Medicaid, which will cover long-term nursing care. When it comes to retirement planning, the sooner you begin the process, the better.
Special Needs Trusts
Families with a relative who has special needs have unique estate planning concerns. You may be wondering about who will provide for your loved one with special needs after you are no longer here. Many individuals with special needs depend on their government benefits, including Social Security benefits and Medicaid. If they receive a large inheritance, they could become ineligible for these important benefits. At Palmer & Slay, PLLC, we have helped many Mississippi residents create special needs trusts that will allow their loved ones to receive an inheritance while remaining eligible for the government benefits they need.
We can help you identify a trustworthy person to appoint as the trustee. The trustee will have the discretion to decide how and when to use the funds in the trust for your loved one. Your loved one can use the trust funds for a vacation, a trip to the movies, or new clothing. They will still be able to qualify for Medicaid that will cover their medical expenses.
Contact an Estate Planning or Elder Law Attorney in Rankin County
The estate planning attorneys at Palmer & Slay, PLLC want to serve Rankin County residents and throughout Mississippi. We will take your matter seriously because we understand that you depend on us. When you work with us for your estate planning or elder law needs, you can rest assured that we will explain every step of the process to you. Our attorneys will answer your questions and help you create an estate plan that addresses your unique goals and needs. Contact Palmer & Slay, PLLC today to schedule your free initial consultation and learn more about our services.