The probate process in Mississippi is the legal process by which a person's assets are identified, valued, and distributed after they pass away. It is the responsibility of the personal representative, also known as the executor, to manage the probate process and ensure that the deceased's wishes are carried out. There are two types of [...]
Estate planning is an important process for everyone, regardless of their age or financial situation. It involves making decisions about how you want your assets to be managed and distributed after your death, and it can help to protect your loved ones and ensure that your wishes are carried out. High-profile celebrities, with their significant [...]
Medicaid is a government-funded healthcare program that provides financial assistance to low-income individuals and families in need of medical coverage. In Mississippi, Medicaid covers a variety of healthcare services, including nursing home care. In order to qualify for Medicaid coverage of nursing home care in Mississippi, an individual must meet certain eligibility requirements. These requirements [...]
Elder law is a specialized area of the legal profession that focuses on issues and challenges faced by older individuals and their families. Elder law attorneys provide a wide range of legal services to help seniors and their families navigate the complex legal and financial issues that arise as they age. Some of the services [...]
Long-term care planning is an important aspect of overall financial and healthcare planning for many individuals and families. As we age, the likelihood of needing long-term care, such as nursing home care, increases. While no one wants to think about the possibility of needing extended care, it is essential to plan for it in case [...]
A personal asset trust is a legal arrangement that allows you to transfer ownership of your personal assets to a trust, which is managed by a trustee. This can be a useful way to protect your assets and ensure that they are distributed according to your wishes after you die. In Mississippi, personal asset trusts [...]
In October 2022, the Internal Revenue Service (IRS) announced contribution limitation adjustments for employee retirement plans in response to inflation. The IRS issued Notice 2022-55, which describes cost-of-living adjustments for retirement and pension plans. The changes are effective January 1, 2023. Increases to Contribution Limits for Retirement Plans in the New Year Beginning in 2023, [...]
In Mississippi, Medicaid is a government-funded health insurance program that provides coverage for low-income individuals and families. It is administered by the Mississippi Division of Medicaid and is jointly funded by the federal government and the state. One question that often arises in relation to Medicaid is whether the program will pay for nursing home [...]
An intentionally defective grantor trust (IDGT) is a type of trust that is designed to avoid certain tax liabilities while still allowing the grantor to retain certain benefits or control over the trust's assets. Despite its name, an IDGT is not actually defective in the same way as a defective grantor trust, as it is [...]
After a Medicaid recipient dies, the state must attempt to recoup from his or her estate whatever benefits it paid for the recipient's care. This is called "estate recovery." For most Medicaid recipients, their house is the only asset available, but there are steps you can take to protect your home. Life Estates For many [...]
