Many people believe that estate planning only involves issues relevant to elderly individuals, so they put this vital task off until they are older. However, those with high-risk occupations usually benefit from a plan regardless of age. An untimely work-related...
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Estate Planning
4 things to include in an estate plan
An estate plan allows a testator to instruct how their estate is handled once they pass away. There’s a lot to understand when making an estate plan. Here’s what you may need to include: Your list of heirs A will typically includes an itemization of assets. It also...
When should you update your estate plans? 2 triggers
When did you last make your estate plans? It may be so long ago that you can’t even put a date on it. If you can’t remember when you made your estate plan, that may be your first sign that your plans are out of date. Estate planning is a life-long process. It’s often...
5 estate planning questions every testator should ask
It’s often important to ask questions when planning your estate. This way you know how you wish to plan out your estate in anticipation of your passing. Here are a few questions you may need to ask yourself: 1. When should I draft my will? One of the first questions...
4 estate planning myths — and the truth
Estate planning is a complex legal matter. Because of its complexity, many people misunderstand certain aspects of the process. If you’re considering making an estate plan, you need to be sure you aren’t misinformed about the following issues. Myth #1: You must be...
How do you appoint an executor for your will?
If you pass away with a will, the individual you designated as the executor will steer your estate through the probate process per Mississippi probate laws. If you died without a will, or if your will is invalidated, the probate court would appoint someone to perform...
Estate planning misconceptions you shouldn’t fall for
Estate planning is essential to financial wellness, yet it's often misunderstood due to various misconceptions. These myths can deter individuals from taking the necessary steps to secure their financial future and those of their loved ones. Regardless of the size of...
Why to have estate planning conversations with potential heirs
You are not required to discuss your estate planning with anyone else. You don't have to talk to your heirs, even if they're going to inherit assets from you. Many people will do this entirely on their own, thinking of it as a rather private process. That's fine if...
Estate planning considerations if you own intellectual property
Intellectual property (IP) is a concise way of referring to intangible assets or property arising out of a creative process. It can be a secret cookie recipe that made your bakery famous or a patented invention your company produced. Those who own IP may pass the...
What is a power of attorney?
Most of what you do to your estate plans will focus on asset distribution. You’ll likely name beneficiaries to inherit some or all of your assets. Furthermore, you’ll name an executor of the estate to handle will validation, asset distribution and contracting...
