How an Experienced Mississippi Estate Planning Lawyer Can Help

The most important plan you can make in life is also the most difficult to consider. No one wants to think about the end of their life, but everyone wants the peace of mind that comes with knowing their loved ones will be cared for. That’s why estate planning is such an essential part of life. With a bit of planning and a few meetings with a lawyer, you can rest assured that everything you’ve built throughout your life is taken care of. Here are a few common questions:

What Is Estate Planning?

Estate planning is preparing for your death or incapacitation through a series of tasks aimed at managing your assets. The duties include writing a will, setting up trusts, limiting estate taxes, naming your beneficiaries and executor, and finally setting up funeral arrangements. The difficulty of these tasks can vary wildly, and an estate planning lawyer can help you navigate the complexities.

Writing A Will

The easiest place to start is a legal document that clearly outlines your wishes. A will provides instructions to your friends and family on how you’d like important things in your life to be handled. Dispersing your assets is an integral part of it, but wills can also contain information about the future custody of your children. Once the will is complete, you name an executor who will be in charge of carrying out your wishes after your death.

Establishing A Trust

Your executor will carry out your wishes, including any trusts you establish in your will. A testamentary trust goes into effect after you die and contains specific instructions about how your assets should be passed to your beneficiaries. A common stipulation of a testamentary trust is that your children or grandchildren only receive their inheritance after they have reached a certain age.

Limiting Estate Taxes

Estate taxes are set upon estates that exceed a specific financial limit. Louisiana is one of 38 states that does not have a state-level estate tax, but the federal estate tax can sometimes be as high as 40%. The tax can be reduced or avoided by making charitable donations, gifting assets to family members, or by setting up a life insurance policy that will cover the tax, so you’re family won’t have to. An experienced estate planning lawyer can eliminate your worry and unease by making these complicated processes as simple as possible.


If you are ready to start making your own plans, call The Law Offices of Rusty Willard at (601) 824-9797.