Purvis Real Estate Lawyer

Real Estate Attorney in Purvis, MS

It isn’t easy to create a plan for after you are gone. However, it is crucial to take the right legal steps to protect your loved ones and safeguard the benefits of your estate. You’ve worked hard, and it’s important that you make a plan to secure your legacy. This can be done with a will. Creating a will or estate plan is much easier with the help of a Purvis Real Estate lawyer. A lawyer can help you outline your goals and achieve them.

Working With a Purvis Real Estate Attorney at the Law Offices of Perry W. Phillips

For decades, the attorneys at the Law Offices of Perry W. Phillips have helped people throughout Purvis and surrounding communities to create and administer wills. We have 58 years of collective legal experience, as well as significant practical experience. Our team offers reliable service in the intricacies of Mississippi will and estate planning law. You need a will that addresses your unique goals and will withstand the probate process. We can help.

What Does a Will Do?

A will allows you to outline your wishes, which are enforced after your death. These wishes include:

1. How the assets in your estate are distributed, and the people or organizations you name as beneficiaries
2. How to address any debts in the estate
3. Who you appoint as the executor of your estate, and who administers the estate in probate
4. A conservatorship clause naming who you want to be the guardian of your minor or dependent children

Your will lists the assets and debts in your estate. Assets can include:

• Real estate, including a home, rental properties, or vacation homes
• Personal property, such as vehicles, furniture, art, and electronics
• Business interests include business ownership or a stake in a company
• Bank accounts
• Stocks and bones
• Insurance polices
• Intellectual property rights
• Digital assets
• Other intangible assets

The decisions in your will are incredibly important for your loved ones and ensuring your assets are safeguarded for their benefit. You can control these decisions, but only if you create a clear and legally enforceable will.

What Makes a Will Valid?

In Mississippi, you are able to make a will if the following is true:

1. You are 18 years of age or older
2. You are of sound mind
3. You are of disposing mind, meaning that you understand your estate and relationships
4. You sign the will, or someone signs it for you at your direction
5. The will is attested to by two or more credible witnesses if the will was not entirely written or subscribed by you
6. The will is notarized

There are certain things you cannot do in Mississippi, such as disinheriting your spouse in some circumstances. It is much easier to be sure you meet all the requirements of a will when you have guidance from an experienced wills lawyer.

Why Do You Need a Will in Purvis?

Without a will, you have no control over who inherits from your estate, who administers your estate, or who cares for your minor children. In Purvis, 32.3% of the population is under the age of 18, compared to 22.8% statewide. The average family size is 3.24 people per household, compared to 3.03 statewide. It is essential that parents prepare for the worst-case scenario and ensure they protect their children.

When you create a will, you can prepare for the guardianship and inheritance of your children. A will allows you to safeguard and inventory the assets in your estate so they can pass to your beneficiaries. The median income in Purvis is $34,688. However, regardless of the number or type of financial assets you have, a will gives you full control over them.

A home is one of the most valuable assets a person can have. There are over 771 housing units in Purvis, and 17% of those houses are valued between $200,000 and $299,999. 1.5% are valued between $300,000 and $499,999. If your will does not outline your wishes, the judge assigned to your case will oversee these important choices. When you hire an estate planning lawyer, they can help you ensure your wishes are outlined and followed after your death.

What Are the Benefits of a Will?

There are many benefits of creating a will, beyond having control over the estate and other important decisions.

A will can expedite the probate process for your loved ones. During probate, your heirs or beneficiaries cannot access the assets you leave them. They can only secure them after probate is completed and the estate has been closed. By helping the probate process go more quickly, you can save your loved ones time, stress, and costs. You can also help them benefit from your estate sooner.

Having a clear intention for your estate can also give your family peace of mind. When you list exactly what you want to happen, it can even limit disputes or disagreements between your loved ones.

Navigating Probate as an Executor of an Estate

Probate is the court process of closing an individual’s estate after they have died. It ensures the administration of their estate, including addressing debts, paying taxes, and distributing assets to beneficiaries. Probate often begins with filing the deceased person’s will with Chancery Court’s office of the county you reside in or the county where you own property.

If you have been named an executor in someone’s will, you are responsible for administering the estate and following the wishes stated in the will. If there is no will, the court appoints a personal representative, who is responsible for administering the estate according to intestate laws. You are responsible for many things, including:

• Sending notices to the right people in specific time frames
• Inventorying the estate
• Paying valid debts
• Paying taxes
• Distributing assets
• Closing the estate

It can be much easier to ensure you meet your legal obligations as an executor or personal representative with the support of an experienced attorney.

Secure Your Future and Hire an Estate Planning Lawyer in Purvis Creating a will is a fundamental part of planning for your future, regardless of your age. At the Law Offices of Perry W. Phillips, we have deep ties to our community. We are proud to support individuals and families like you in safeguarding their futures. Contact our firm today, and we will answer any questions you have and help you understand how we can assist you in drafting a will or navigating probate.