Many people associate blind trusts with elected officials who want to assure constituents that their decisions aren’t being made to enrich themselves or their families or that there’s any real or perceived conflict of interest. An independent third-party trustee,...
Probate And Estate Administration
What tasks must an estate executor complete in Mississippi?
Your best friend has recently asked you to fill the role of estate executor after he or she dies. You want to help and are committed to the role, but you are also a little afraid of the responsibility. In a best-case scenario, friends who ask others to become their...
Why you need to avoid ambiguities in your estate plan
Often, people believe their estate planning needs are simple and don’t require getting an attorney involved. It’s certainly easy to find do-it-yourself estate planning documents online. However, every estate plan (even a simple will) needs to be as unique as the...
How long does probate take in Mississippi?
When a person dies, their estate generally goes to probate. The probate process varies by state, but in most cases, it can take several months or years, depending on the court caseload and the case's complexity. Understanding what causes delays in the probate process...
Are you unhappy with a trustee? Can you remove them?
When someone creates a trust for their heirs, they must choose someone they trust to manage it. This person is known as the trustee. As the beneficiary of a trust, you may come to disagree with that choice. If that happens, you may wish to try and remove them from...
What constitutes a properly executed will in Mississippi?
One reason people delay drafting their will is that they don't understand its benefits. One of the primary goals of individuals who do move forward with this process is to take charge of distributing their assets when they pass away. Many Mississippi residents are...
What debts will you have to repay as the executor of an estate?
As the executor of an estate, it is your job to carry out the last wishes of the testator as enshrined in their estate plan. However, before you begin the process of passing out assets to beneficiaries and family members, you will first have to fulfill the financial...
Why a sibling shouldn’t be a trustee
Picking adult children as trustees or estate executors is very common. To parents, it often feels very natural. They have a child who is good with numbers and can handle the job, and they know that the person they pick will be invested it doing it well. That’s what...
The fiduciary responsibility of an estate executor
One of the decisions that a person will make when they create an estate plan is naming the estate’s executor. This is the person who will settle the estate once the testator passes away. Being named as the executor means that the deceased had trust in your abilities,...
Create a paper trail to protect yourself when you’re an executor
Being an executor is a very significant responsibility. You have an obligation to act in the best interest of the beneficiaries of the estate and to follow the instructions left behind by the deceased individual who named you as their executor. In the event that you...