While a person is in a state of full physical health and energy, this is the most ideal time to think about the future and make important plans. Thoughts about what will happen to your family after your death, or after you will no longer be physically able to freely dispose of your property, are very important.
All decisions made today will greatly facilitate the life of your loved ones, provide them with financial security, and protect your assets from creditors after your death. Experienced Mississippi trust attorneys will answer all your questions and help you complete all the necessary documents.
Trust attorney advantages
A living trust is an arrangement, the essence of which is the transfer of property to the management of a certain person (trustee) for someone else’s benefit. The beneficiary is precisely the person to whom the living trust passes in the future. The purpose of the trust can be absolutely any, the most important thing is that it is not illegal or does not direct against public order.
One of the main advantages of the living trust is that any property transferred to the trust during your life will go directly to your beneficiaries. The important thing is that trust property absolutely does not need to go through a probate court.
Your trusted attorney understands every aspect of this process. Be sure, that he or she knows Mississippi law about trusts, all kinds of trusts that are available in your situation, and how to ensure a trust is followed to the trustor’s exact wishes.
Your trust attorney has the experience to match the knowledge, allowing him or her to advise on the best course for the trustor. It is very important for you to know which assets work best in trusts and which trusts work best for you.
Your trust attorney will explain to you in detail why this procedure is more beneficial than the usual will. But the most common advantages are the following: the lack of additional fees that exist when approving a will; the property immediately transfers to the beneficiaries; the terms of the trust remain private.
The property that passes through the will is obliged to go through the process of approving the will and is therefore subject to various fees and delays usually associated with this process. Besides, when a will is approved, it becomes a public document that can be obtained and read by anyone.
A trust is also a very good way to give a gift to your underage children or to provide care for elderly parents. This is also the best option for people who worry about their possible future inability.
Trust attorneys – consultation and answer all your questions
Mississippi experienced trust attorneys will give you a private consultation and answer all your questions. Once you make a decision, they will help you make or amend your will, as well as talk about the need and consider the likelihood of creating a “living trust”.
Besides, your trusted attorney will make a copy of the will and give it to people close to you, draw up a letter with instructions for your relatives, and consider pre-funeral planning.