Probate is the legal process of administering a deceased person's estate to distribute assets and settle debts. In Mississippi, when a loved one passes away without leaving a will, the probate process can become more challenging. Identify the administrator The first...
Probate And Estate Administration
What are the obligations of an estate executor?
An estate executor is an important part of the administration of a deceased person's estate. The executor is responsible for carrying out the wishes of the deceased person and ensuring that the distribution of the estate is according to the law. Creating an inventory...
Signs an executor is mishandling your loved one’s estate
After the loss of a loved one, the last thing anyone wants to worry about is whether the executor of the estate is handling their duties properly. An executor is responsible for managing the estate according to the wishes of the deceased, as outlined in their will....
Signs your loved one signed their will under duress
When a loved one passes away, it is a time for mourning and reflection. Family members come together to respect the final wishes as laid out in the deceased’s will if they have one. Gallup reported that only 45% of Americans say they have a will. This important...
Should I name co-executors to handle my estate?
The decision to name an executor for your estate may prove harder than you had imagined, perhaps because you have multiple children who may want the position. It may seem simple to name them as co-executors, but this is an option to take with great care. Co-executors...
Can you safeguard your family during probate?
Creating a foolproof will may not prove enough to keep your family afloat during probate proceedings. Since the process may take time to rectify, your loved ones may suffer for a time without adequate access to the financial support they need. Is there a way you can...
What does a trustee do?
A trustee is a person you put in charge of managing a trust you create. This person takes immediate control over the assets in the trust, and he or she has a lot of power to dictate what happens with them. You will outline the duties of the trustee when you create the...
Are executors liable for mismanaging an estate?
When you agree to serve as the executor over someone’s Mississippi estate, you are also agreeing to uphold a number of important obligations and responsibilities. Serving as someone’s executor takes time, and the position often involves tracking important dates, tying...
4 mistakes to avoid as a fiduciary
A person who writes a will or creates a trust may name you as an executor or trustee. You could also become an estate administrator by court appointment. In any of these cases, you become a fiduciary with the responsibility of managing assets for someone else's...
What mistakes should you avoid when choosing an executor for your will?
Choosing an executor for your will is one of the most critical steps when planning your estate. Your executor has control over paying off your debts, filing your will and distributing your assets. Picking the wrong person could slow down the process after you pass....