Paper with text fiduciary duty on wood table. In your estate, a fiduciary has important legal responsibilities that must be addressed with the utmost level of care. Finding the right fiduciary advisor, who acts in a fiduciary capacity and is legally obligated to act in your best interests, is extremely important for protecting your interests [...]
In the first week of the first year of law school, every lawyer learns that property is “a bundle of sticks.” What this quaint saying means is that ownership of property can be divided into multiple sections. The most common example of this division of property rights is probably the severance of the “mineral” rights [...]
Do you have an annuity? Is this a financial tool you created for your own future but is something that was ultimately moved out of your possession/estate and into the management of a trust? An insurance company plays a crucial role in managing annuities, especially when they are owned by a trust. Read on to [...]
The Mississippi Court of Appeals recently ruled that real property that is “exempt” from creditor claims within a probated estate of a deceased Medicaid beneficiary, are not subject to Medicaid’s recapture rights. Federal law requires all states that participate in the Medicaid program to recover the costs of care of a beneficiary against that beneficiary’s [...]
In order to transfer someone’s assets after their death, their estate usually needs to go through probate. Probate is the process of transferring title from a deceased person to their successors and heirs, including the management of death real property. The probate process is overseen by a court. The primary two purposes of probate are [...]
Mississippi estate law covers how your assets are managed and distributed after you die. If you’re looking to draft a will, create a trust, or understand what happens if you pass without a will, this guide will help you navigate the essentials. Key Takeaways Mississippi estate law involves key documents such as wills, trusts, and [...]
Divorce is not inevitable, but many people find the divorce process and the thought of ending their marriage extremely difficult when they are just planning the wedding itself. However, a strategic wealth plan can be an important component of asset protection planning. Consulting with a family law attorney can provide valuable guidance in creating a [...]
The very definition of a revocable trust means that you are able to amend a living trust in a few different ways. You can, for example, prepare and sign a trust amendment form that is valid under your applicable state law, ensuring that your trust documents comply with state regulations. This makes an amendment or [...]
Many people already know that the cost of nursing home or long term care in their older ages can be extremely high. The average cost of nursing care in a nursing home in the United States can easily go above $70,000 a year, and according to a Georgetown University Medical Center study, this has risen [...]
Jackson, Mississippi Wills and Estates Lawyer Answers, “What Happens to a Deceased Person's Debts When They Die?” Mortgages, loans, credit cards, even medical bills…nearly every wills and estates lawyer in the Jackson, Mississippi Metro Area is asked about what happens to a person’s debt when they die. It doesn’t seem quite fair for your descendants [...]
