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Estate Planning Attorneys in Ridgeland, MS
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Estate planning is for everyone. You are never too young or too old for an estate plan. Whether you are young or in the prime of life, starting a business or preparing to retire, expecting your first child or first grandchild, having an estate plan is crucial to protecting your assets, providing for your own healthcare and financial well-being, and leaving a legacy for future generations. Ultimately, estate planning is about finding true peace and security for yourself and your family.
At the Hancock Law Firm, our Ridgeland, MS estate planning attorneys take all of these factors into consideration and help you create a comprehensive estate plan tailored to your own unique needs. We address all aspects of estate planning through a combination of wills, trusts, powers of attorney, and legacy estate planning to create an estate plan that is right for you. For a fully confidential initial consultation with a Mississippi estate planning attorney, please call our Ridgeland law office today.
We Provide Comprehensive Estate Planning Services in Mississippi
Drafting a Will
The will is one of the key building blocks of any estate plan. Every adult should have a well-drafted will in place. Alarmingly, more than half of American adults currently lack a valid will. Even if you are creating one or more trusts to dispose of your property, it is still essential to include a will to make sure every asset in your estate is covered and disposed of according to your wishes. The will is also the proper place to name an executor for your estate, make any special bequests, and appoint a guardian for your minor children if one might be necessary. If you have any questions or concerns about writing a will in Mississippi, our Ridgeland estate planning lawyers are here to help.
Trusts offer certain advantages over wills. For instance, a trust is confidential, whereas a will becomes a matter of public record. Also, property transferred through a trust does not have to go through probate. A revocable living trust is an excellent tool for transferring property. In addition to revocable living trusts, we can establish a variety of other trusts specially formulated for advanced tax planning or other special needs. Although not everyone needs a trust, when it may be beneficial, we will advise you accordingly and create the trust to suit your needs.
We can help with any of the following types of trusts, among others:
- Bypass trusts or credit shelters;
- Charitable remainder trusts
- Irrevocable trusts;
- Special needs trusts; and
- Irrevocable life insurance trusts (ILIT) or insurance-funded trusts.
Powers of Attorney
While most people think of estate planning as dealing with matters after your death, it is just as important to think about what may happen in the event you become physically or mentally incapacitated, even for just a short while, and unable to make or communicate decisions about your healthcare and your own legal and financial affairs. With a properly executed power of attorney, advance health care directive or living will, you can instruct others about your wishes regarding your healthcare, or designate someone you trust to make medical, legal, and financial decisions on your behalf. Without the proper documents in place, it may be necessary for a court to impose guardianship on you or your estate, or for family members to go to court fighting over your best interests as they see them. Making these important decisions in advance saves time, expense, and needless worry for your loved ones while helping to ensure that decisions are made as you would have them made.
Living Will/Advance Medical Directives
Do you have specific wishes regarding your end-of-life care? If so, it is highly recommended that you draft a living will or create advance medical directives. These legal documents will help to ensure that doctors follow your wishes for treatment even if you are not in a position to communicate with them. Our Mississippi estate planning lawyers can help you craft a living will and/or medical directives.
Legacy Estate Planning
You may have more to leave than just your property and tangible assets. Many people choose to leave a personal message to loved ones in their will, or through a legacy video or intangible gifts. We can discuss with you what you would like to do in regards to your legacy and advise you on the proper ways to carry out these intentions. If you want more information about legacy planning, our Ridgeland, MS estate planning attorneys are more than happy to help.
How Often Should an Estate Plan Be Updated?
As a general rule, it is a best practice to review your estate plan on a regular basis. You should look over your estate plan every few years to confirm that it still meets your needs. Additionally, you should be ready to revise your estate plan after major life events. Broadly defined, a major life event is anything that fundamentally changes the structure of your family, your finances, your health needs, or your estate planning goals. Some notable examples of major life changes include:
- A marriage or divorce;
- The birth or adoption of a child;
- The birth of a grandchild;
- Significant health/medical issues; and
- Significant financial changes, such as retiring or coming into a large inheritance.
You Can Rely On Our Mississippi Estate Planning Attorneys
Estate planning is complicated. At Hancock Law Firm, PLLC, we help people and families navigate the process—with a focus on working with clients to create a plan that effectively provides protection and achieves their goals. Among other things, our Ridgeland, MS estate planning lawyers are prepared to:
- Answer questions and explain the estate planning process during an initial consultation;
- Take care of all of the estate planning paperwork; and
- Help you create a fully personalized plan that provides true peace and security.
Every person’s estate planning needs are unique to their situation. We do not provide cookie-cutter, one-size-fits-all, estate planning advice to our clients. Our Mississippi estate planning lawyers will put in the time and resources to help you and your family craft a plan that works.
Get Help with Your Estate Plan from Our Ridgeland, MS Estate Planning Attorneys
For advice and assistance on creating an estate plan, or if life changes have occurred and your current estate plan needs to be modified, trust the Hancock Law Firm to provide sound legal advice and professional assistance in crafting a comprehensive, effective and enforceable estate plan. Call our office in Ridgeland at (601) 768-1204, or contact us online to schedule a consultation with one of our experienced Ridgeland estate planning attorneys. We provide estate planning services throughout the entire region, including in Madison County, Hinds County, Rankin County, Yazoo County. Leake County, Smith County, and Scott County.
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