Hattiesburg Estate Planning Lawyer

Estate Planning Attorney in Hattiesburg, MS

Estate planning can benefit every individual, whether you have children, are married, are single, have a small business, or have limited assets. A Hattiesburg estate planning lawyer can help you navigate the legal and emotional challenges of estate planning. You should take the right steps to protect your future.

The team at the Law Offices of Perry W. Phillips provides empathetic and practical legal advice as we draft an estate plan. Our attorneys have 58 years of collective legal experience. We can help you navigate the documents of an estate plan and assess which are right for you.

We are familiar with state and local laws related to estate planning and probate, and how these laws can impact your unique needs. Our team has deep community roots and is proud to help individuals and families throughout Hattiesburg navigate estate planning goals.

What Are the Key Elements in an Estate Plan?

Each estate plan can be unique and tailored to your specific financial and personal needs. When you hire an estate planning lawyer, they can consider your specific goals and assess the right documents to support those needs. Some of the most common and essential documents in an estate plan include:

Wills

A will is a basic and foundational document for an estate plan. It can outline the following things:

1. What assets are in your estate
2. How those assets are distributed and the individuals or organizations that you want to benefit from the assets
3. How to handle any existing debts
4. The executor of your estate when your estate goes through probate
5. Who you want as the guardian of your minor children

Your will clarifies your final wishes and how to manage your estate and protect your loved ones after your death. This clarification can help probate proceed smoothly and provide your loved ones with the certainty they need.

Working with an attorney is crucial when creating a will, because doing it wrong can add to the complications of probate. The probate process begins with your will, if one exists, being filed with the Chancery Court’s office of the county you reside in or the county where you own property. An unclear or improperly executed will may be invalidated or contested, thereby lengthening the probate process.

Power of Attorney

Power of attorney documents are another important aspect of estate planning, which can come into effect while you are still alive. If you become incapacitated, a durable power of attorney can put someone in charge of certain decisions in your life. The primary power of attorney types include:

• General power of attorney, who can control and manage financial choices
• Medical power of attorney, who can make healthcare and medical decisions for you, often based on the instructions in a living will

You can give one person all power of attorney, or assign it to multiple individuals. It is essential that you select someone you can trust, such as a friend, family member, spouse, or professional. They have these powers while you are incapacitated, and if you recover, you can make those decisions yourself.

The Importance of a Power of Attorney

While no one wants to consider a time they might be physically or mentally incapacitated, it can happen to anyone. An accident or illness can cause incapacitation, especially as you grow older. Of the disabled population in Hattiesburg, 9.2% have cognitive difficulty. Not all of these individuals are incapacitated or unable to make legal decisions, but some are.

Creating a power of attorney document enables you to protect yourself from exploitation and ensures that you know who will make decisions on your behalf regarding your life. It also prevents your loved ones from having to petition the court for these abilities during a very stressful time.

Living Will

A living will, also called advanced medical directives, lists your preferences for medical care. It may address issues like:

• Pain management
• Procedures you consent to
• Procedures you refuse to consent to
• Spiritual beliefs relating to healthcare
• End-of-life care

This document is an important guide for medical providers and your healthcare power of attorney. It gives you control over your care at a time when you are unable to make decisions for yourself.

What Is the Importance of Creating an Estate Plan in Hattiesburg?

There are several reasons it is important to create a comprehensive estate plan, including:

• Control over your affairs. Without a will, you cannot decide who benefits from your estate. Instead, the court will appoint someone to manage the estate, and the assets will be distributed according to the state’s intestate laws.

• Saving your loved ones’ time in probate. A will goes through probate, but a straightforward and enforceable will can significantly limit the time your loved ones spend in probate court.

• Safeguarding your assets. The average household income in Hattiesburg is $80,175. No matter how many or how few assets are in your estate, it is important to protect them so they can help your loved ones.

A will helps you outline and protect the right assets and determine which assets are used to pay off creditors. It can also minimize the tax consequences and other financial burdens of probate, allowing you to save further assets for your loved ones.

• Protecting your children. If you don’t name a guardian in a will, the court will decide who is the right person to care for your children. This may not be who you prefer to care for them. Your will can also help provide for your children by safeguarding specific assets for them to receive.

• Providing for disabled loved ones. When you have disabled loved ones, providing for their financial support requires special care. According to the U.S. Census Bureau, 18.4% of the population in Hattiesburg is disabled. This includes 7.3% of individuals with an independent living difficulty and 8.8% with an ambulatory difficulty. The help of an attorney can help you determine how to clearly outline inheritance for disabled heirs.

Work With an Attorney Knowledgeable in Estate Planning Laws in Hattiesburg

At the Law Offices of Perry W. Phillips, PLLC, we can help you protect your legacy. Contact us today.