Wills

What does a will usually contain?

Typical provisions of a Last Will and Testament include: name of the testator (your name); name of the testator’s spouse and date of marriage, if any; name of all of…
Wills

What Does Per Stirpes Mean in a Will?

Per stirpes is a Latin term meaning “by roots,” or by representation. The term is often used in wills and trusts to describe how to carry out a distribution when…
Wills

What happens if a will cannot be found?

Missing wills raise all sorts of interesting legal issues which often turn on the specific facts and circumstances, and the law of the state in which the deceased resided. The…
Power of Attorney

What if I move?

Generally, a Power of Attorney that is valid when you sign it will remain valid even if you change your state of residence. It should not be necessary to sign…
Wills

What if someone objects to the will?

If someone files an objection to the Will, or produces another will, what is known as a “will contest” has begun. While will contests are not that rare, and while…
No Will

What if there is no will?

If a person dies without a Will (known as dying intestate), the probate court appoints a personal representative frequently called an administrator or administratix to receive all claims against the…
Trusts

What is a AB Trust?

An A-B trust is a trust which divides into Trust A and Trust B upon the death of the first settlor. The main tax advantage of an A-B trust is…
Guardianship

What is a Guardian?

A guardian is a person who is legally appointed to make decisions on behalf of someone else, typically referred to as a ward, who is unable to make those decisions…
Living Trust

What is a Living Trust?

A Living Trust is one form of estate planning that is effective when made. They are designed to help avoid probate although many times a simple probate may still be…
Living Wills

What is a Living Will?

A Living Will is not a Will at all but instead of a document that specifies what you want done in the event you become injured or otherwise will not…
Wills

What is a residuary estate?

A residuary estate refers to the remaining assets and property of a deceased person after all specific bequests, debts, taxes, and administrative expenses have been settled. It is the portion…
Trusts

What is a trust estate?

The property that is transferred to a trust becomes the trust estate. A trust estate consists of all of the property, rights and obligations that are transferred to the trust.…
Trusts

What is a Trust?

A trust is a legal arrangement where one person or entity (the trustee) manages certain property or assets for the benefit of another person (the beneficiary) who actually owns legal…
Trusts

What is an accumulation trust?

Accumulation trust is an arrangement by which the settler directs the trustee to accumulate income and gains from sales of trust assets until the time specified in the document that…
Trusts

What is an active trust?

Active trust is a trust in which the trustee has some affirmative duty of management or administration besides the obligation to transfer the property to the beneficiary. An active trust…
Probate

What is Probate vs. Administration?

You may see the terms Testate and Intestate.  Testate means a person died without a Will. Intestate means a person died without a Will. It cost less to probate (file…
Wills

What is the basis for a will contest?

If there are legitimate questions about the validity of a will, a will contest should be brought promptly. In virtually all states, there are specific time limits on the right…

All content is for informational purposes only. It is also only intended to relate to Mississippi Estate Planning Law.  If other states are mentioned, they are mentioned as an example only. No legal advice is provided in this content.