When a person dies in Mississippi, probate is the legal process through which a deceased’s assets are collected, identified, valued, and distributed to creditors and/or their heirs. Generally speaking, probate involves the appointment of an executor or administrator by the local Chancery Court who is responsible for collecting all probate assets owned by your loved one at death.
Mississippi man signing a last will and testament document.
What is a Probate Asset?
In Mississippi, probate assets include all real and/or personal property which you own at death that does not pass to your heirs or beneficiaries by operation of law. This would apply whether or not a will exists. If a person dies without a will in Mississippi, they are said to have died intestate. Intestacy laws identify how probate assets should be distributed when a person dies without a will in place. An experienced probate attorney can help individuals understand what probate assets would pass under intestacy statutes if no will exists or through probate if one does exist.
How Long Does Probate Take?
Mississippi Probate typically takes between 6 months and one year, possibly longer if probate assets include real estate that must be sold to pay debts.
Can Probate Be Avoided?
Because probate is the legal process for administering a deceased person’s property for their creditors and potential heirs, probate can usually be avoided if that person created an estate plan during their lifetime. For example, the use of living trusts can help individuals maintain control over their assets while they are alive and also protect them from probate after death. Through wills, people have the ability to designate specific beneficiaries or guardians of minor children so that those persons inherit their assets instead of probating the will at all. Additionally, it is critical to make sure an up-to-date inventory list exists for your probate assets as soon as possible.
Contact a Mississippi Probate & Estate Planning Attorney at Rushing & Guice P.L.L.C.
We’re here for you. It can be overwhelming to think about all the different directions you need to go when it comes time to plan your estate, and that’s where we come in. Rushing & Guice PLLC has been serving Mississippi since 1908 with a team of attorneys who are committed to providing unbeatable service at an affordable cost. If any of this sounds confusing or intimidating, please don’t hesitate to reach out so our advisors can help get your head on straight! Call us today via phone or contact form if you have any questions during the probate process, would like a consultation regarding an estate plan, or just want general legal advice on wills and trusts. Our lawyers look forward to hearing from you soon!