Estate Planning Tips in Mississippi

The prospect of estate planning can be overwhelming. Assets need to be accounted for, laws are often complex, and difficult decisions need to be made. With a skilled attorney by your side, this process can be much easier, but learning essential estate planning tips for Mississippi can be helpful as well.

About Us: Skilled Estate Planning Attorney

Berry Law Firm is a boutique service headed by Leigh Kennington Berry. Leigh has been serving the people of Colombia and the greater Marion County for years. She has counseled many people in the complexities of estate planning laws, and she understands that each case is unique.

Tips for Estate Planning

Estate planning is a complex process, with many steps that need to be addressed. There are three essential tips when beginning an estate plan. The first is making a detailed accounting of your assets. Another is to draft a will determining what you wish to be done with your estate. Lastly, organizing trusts can be a beneficial way to both protect and disperse assets as you see fit.

Assessing Assets

Understanding the composition of your estate is essential when beginning the process of estate planning. In Marion County, the median income is over $52,000, indicating that most people have an estate that will need to enter the probate process. The definition of an asset is broad: things like tangible and intangible personal property, bank accounts, investments, digital assets, real estate, and retirement plans all count.

Creating Wills

Wills are an essential part of ensuring that your estate is managed according to your wishes. Wills can articulate how assets are to be divided after death, which individuals will act as executors on your behalf, and designate beneficiaries. Wills are not only for planning for after you have passed away. They can also clarify your wishes for yourself and your estate should you become incapacitated.

Understanding Trusts

Trusts are a form of securing assets for future use and distribution. Typically, these are situations where the creator of the trust, the settlor, transfers assets or funds to someone who manages them, the trustee, for future disbursement to various parties, the beneficiaries. They can ensure your wishes are fulfilled even after you are gone by transferring assets under a trustee.

Why Choose Us?

When hiring an estate planning lawyer, it is important to find an attorney with experience in the field. With experience across a broad range of estate planning cases, Leigh Kennington Berry understands that the needs of each client are different. She strives to tailor her counsel to your needs. Estate planning laws are complex, but Berry Law Firm is ready to provide guidance and help you through the process.

Hire an Estate Planning Lawyer

A recent Gallup Poll found that over 45% of Americans have some kind of estate planning in place. Engaging with the process can be an essential part of organizing your assets, providing for loved ones, and ensuring your wishes are fulfilled in the future. It is never too early to start. Contact Berry Law Firm today to learn how you can gain peace of mind.