Losing a loved one is not only an emotional and saddening experience, but can also be a stressful situation when dealing with probate matters. Probating a will to determine how a loved one’s property should be distributed can be time-consuming and costly, as there are court fees. A way in which you can avoid probate upon a loved one’s passing is to create a living trust. A living trust is somewhat like a last will. Your assets are placed in trust for the benefit of those listed as beneficiaries of your living trust. A trustee manages your living trust to ensure all assets are distributed fairly according to your intended distribution. Many people are not aware of this option for estate planning, and if utilized, it can relieve your loved ones of unnecessary stress during a difficult time.
The Importance of Having a Living Trust
Once a loved one passes on, there is no way to go back in time to ensure your loved one documented his or her intentions in a written will and testament or in a living trust. Preparing now by creating a living trust will reflect your intentions as to how your property and assets are to be distributed. If the living trust is clear and not ambiguous in any way, then it will be very easy for the trustee to distribute the property to the beneficiaries.
Having a living trust significantly decreases the risk that a lawsuit may arise regarding the distribution of your property. A living trust is a better option for some individuals, because even though a last will and testament states your clear intent as to how your property is to be distributed to your loved ones, a living trust created while you are still alive prevents any questions as to what your intent is. Probating a will has caused family members to part ways if they fight over what the last will and testament means.
How a Mississippi Wills, Trusts & Estates Attorney Can Help You
Whether your loved one has passed away with or without a last will and testament, and you need assistance with the probate process, or if you are considering the creation of a living trust, a qualified Mississippi Wills, Trusts & Estates Attorney can guide you through the process and ensure that your living trust is valid under Mississippi law. Many individuals handle estate matters without the assistance of an attorney. While it is not required that an attorney assist you in the estate planning process, it is important that the process is done correctly. While there are other ways to avoid probate, a living trust is an easy way to plan for the distribution of your property now to make the process as seamless as possible once the time comes.
Contact Turk Law Firm, PLLC Today to Schedule Your Free Consultation
If you have recently lost a loved one who died without a living trust, you may be involved with probate proceedings to determine how your loved one’s property is to be distributed. Having a qualified Mississippi Wills & Trusts Attorney help you through probate will make the process much less stressful, and can also help you avoid probate for your own estate by planning now for the future. If you have dealt with probate matters before, you already understand how much is at stake and how a living trust could prevent many of the problems the probate process carries with it. Lindsey McGee Turk of Turk Law Firm, PLLC helps families with a variety of estate planning needs on a regular basis, and has the skill you need in a qualified and dedicated attorney. To speak with Lindsey McGee Turk about your estate or probate matter, contact Turk Law Firm, PLLC today by calling (601) 214-1471 to schedule your free consultation.
