A will is a document in which you determine who will receive your assets, who will carry out the terms of the will, and who will manage the estate after your death. Someone named in a will to receive your assets is called an heir or beneficiary, and the person put in charge of making that happen is called a personal representative or executor. It's important to note that wills do not apply to assets with a surviving joint owner or assets with a designated living beneficiary. For example, with retirement accounts and life insurance, if you have a spouse and then your children named as beneficiaries, that asset will be payable directly to the living beneficiary, regardless of what the will specifies. If you have a will, it's crucial to ensure that it aligns with everything owned jointly and everything with a designated beneficiary to ensure it all works together according to your wishes.

Additionally, any property passing under a will must be filed with a probate court, reviewed, and approved before anyone named in the will, such as the personal representative, can act on your behalf, gather your assets, pay any creditors, and ultimately distribute the assets to your heirs. A will must be probated, which is a common misconception. Some people believe that a will is a magical document that covers every estate planning scenario, but it doesn't. While it is critical and necessary, you need to understand that it must probated before it becomes effective.

An estate plan is a comprehensive plan that addresses many contingencies beyond just who gets what assets. While determining who gets what is important, it is only one piece of the puzzle. Estate planning also covers incapacity and disability. Who will ensure that your bills are paid and your assets are managed if you are unable to do so? Who will make medical decisions for you and communicate with your doctors about your condition? An estate plan addresses these concerns as well.

Additionally, estate planning covers guardianship. If you are the parent of a minor child, you need to ensure that short-term emergency guardianship is covered, such as who can care for your children overnight or for a short period if needed. Long-term guardianship is also important, determining who will raise your children if something were to happen to you.

An estate plan includes all these aspects and may use a will or a trust to address who gets what assets. For more information, check out our FAQs on what a will and a trust are. The key point is that an estate plan is a comprehensive plan that covers various aspects, from incapacity and disability to long-term provisions for your children and legacy considerations. The legacy component is also significant; your family will remember you through personal touches like videos, letters, and photographs, not just legal documents. While legal documents are essential, the legacy component is equally important in an estate plan.

The short answer is yes. A will specifies who gets what, but it doesn’t address all aspects of estate planning. Estate planning also covers what happens if you become incapacitated or disabled, who is in charge of your assets and medical decisions, and who will care for your minor children. So, you definitely need more than just a will.

Powers of Attorney gives authority to an agent for managing your assets and medical decision-making. You also need a living will, which outlines your wishes for end-of-life decisions if you are on life support, and a HIPAA release to allow your doctors to communicate your condition to family members. All of this is in addition to a will. Whether you need both a will and a trust is a separate issue, but a will alone does not cover all your estate planning needs.

If you are a parent of minors, you should also address guardianship in detail. This includes short-term emergency guardianship, long-term guardianship, and emergency wallet cards with information about your estate plan. Letters to your children and their guardian can also be useful to convey your wishes and values. These supplements to a will ensure that everyone understands your ultimate wishes, values, and stories.

A Living Will is sometimes confused with a Last Will, which specifies who gets what after you pass away. A Living Will applies while you are still alive. It outlines your wishes regarding life support if you are terminally ill or injured, unable to communicate, and on life support. It specifies after how many days you would want to be removed from life support—whether that’s three, five, or seven days, or any other timeframe you choose.

The purpose of a Living Will is to clarify your wishes in advance so that your family does not have to make this decision under emotional stress. If you specify that you want to be taken off life support after a certain number of days with no improvement, your family will know your exact wishes, thus avoiding conflicts about what you would want.

If you die without a will, state law will determine who gets what. Mississippi Law of Intestate Succession provides for spouses and children first, then parents, siblings, and descendants of siblings, and so forth. However, it can become complex if you have a blended family or if you or the surviving spouse have children from different relationships. In such cases, the distribution might not be straightforward.

While state law provides a default framework for inheritance, it may not align with your personal wishes and does not ensure that assets are managed as you would want. Therefore, it is crucial to have a clear, written plan to avoid relying solely on state law.

This question is very personal to me because my husband and I have two young children. We want to ensure that if something happens to us, we have selected the best guardian for them. We want to choose a guardian who would essentially parent them as we would.

You should select someone who has a similar parenting philosophy and style, especially regarding discipline and educational choices. It’s important that their values align with yours, including decisions about religion or spirituality. 

Consider factors such as parenting philosophy, style, discipline, educational choices, and extracurricular activities. These are decisions you would want a potential guardian to make in line with what you would choose. It helps if you communicate your wishes clearly to the potential guardian in advance, so they can honor your values and raise your children as you would.

When discussing long-term guardianship, who will actually raise your children, remember that this is different from short-term guardianship, which covers emergency situations. Be cautious not to choose a guardian solely based on their financial resources. While financial stability is important, ideally, you will provide enough support for your children to cover their needs through high school and beyond. Financial support is a separate issue from selecting the right person to raise your children in line with your values.

Choosing the right guardian is about ensuring that your children are raised in a manner consistent with your wishes and values.

Should I name my children as beneficiaries of my life insurance policy? We generally do not recommend naming a minor child as a beneficiary of any asset, including life insurance or retirement accounts. The reason is that if you, as the asset owner, pass away and the asset or funds are payable to a minor child, the minor child is legally the owner but cannot manage the asset independently. 

In this case, a court would appoint someone to manage the asset until the child reaches the age of majority. This means that someone other than you—a court or judge—will decide who manages the asset and how it is used. By naming a minor child as a beneficiary, you leave it up to chance that a judge will make decisions about the management and use of the asset.

Moreover, if the amount is significant, such as a million-dollar life insurance policy, the minor may receive the funds with no adult oversight upon reaching the specified age. This could result in them using the money in ways you would not have wanted. It’s essential to ensure that the funds are preserved for significant milestones, such as a wedding, purchasing a home, or going to grad school. Therefore, naming a minor child as a beneficiary is generally not advisable.

You may hear that the goal of estate planning is to avoid probate. Probate is a court process where a judge determines who is in charge of an estate and ensures that assets go to the legally entitled heirs.

Probate is also used to appoint someone to manage the assets and medical decisions of a minor or incapacitated adult. If you haven’t completed estate planning, the court will generally decide who manages your finances, the guardian for your children, and how your assets are distributed.

Probate is a public court proceeding, and all filed documents become part of the public record. The process can be time-consuming, which may delay action on your behalf. If you want your family to act quickly and privately, avoiding probate may be beneficial.

A will does not avoid probate. A will must be filed in court before it becomes effective, and anyone can act on your behalf only after court approval. If avoiding the public nature and delays of probate is important to you, consider using a living trust as part of your estate plan. For more details, check out our FAQs on living trusts and wills.

Whether or not to avoid probate is a client-specific decision. We believe in educating you about what probate is, how to avoid it, and allowing you to decide what is best for you.

Probate is a court process where everything filed becomes a public record. This can reveal private details about your heirs and what they receive. Additionally, the probate process can be slow, which might prevent your family from acting quickly and efficiently. If you value privacy and efficiency, avoiding probate could be beneficial.

A will does not avoid probate; it must be filed with the court before it is legally effective. If you want to avoid the public nature and delays of probate, you might consider utilizing a living trust as part of your estate plan. For more information, check out our FAQs on living trusts and wills

Think of a trust as a substitute for a will. Both a will and a trust specify who gets what assets, under what circumstances, and who is in charge of making it happen. 

The key difference is that a will must be filed with a probate court, reviewed, and approved before anyone can act on it or receive assets from your estate. This makes the will part of the public record and the process time-consuming.

A trust, on the other hand, is a private document. Only those named in the trust and the successor trustee have access to it. The successor trustee can act immediately upon your passing, without needing to go to court or get approval. A trust allows for a more immediate and private administration of your estate.

In summary, while both wills and trusts serve similar purposes, they follow different processes. A trust is more efficient and private, while a will is public and takes longer to execute.

You’ve probably heard that trusts are only for the wealthy or only needed if you have a certain net worth. That’s not the approach we take at Hurring Desporte Law. Instead, we let the client decide whether a will or a trust is the best route. It’s not about how much you own or your net worth; it’s about the quality of what your family will experience.

If you leave a will without a trust, your family will likely have to go through probate court in most cases. Using a trust, and ensuring everything is done properly, can help your family avoid probate court, making the process more immediate and private. In contrast, a will becomes a public record.

Understanding how a will versus how a trust functions helps our clients determine which option is right for them. We don’t make judgments based on our clients’ assets about whether they need a trust. We provide education about the differences between wills and trusts so you can make an informed decision about what’s best for you and your family.

Typically, it takes about six to eight weeks from start to finish. We can expedite the process if you’re traveling internationally or expecting a baby. 

You will come in for your first appointment to meet with your attorney. You’ll ask questions, and we’ll ask questions, allowing you to decide whether to proceed. Most people choose to move forward to complete their estate plan and ensure their family is protected.

During the first meeting, we’ll determine the exact fee. About a month later, you’ll come in for the signing, where you’ll finalize and sign all the legal documents.

We’ll also schedule a third meeting, called the legacy meeting, where you’ll focus on capturing your insights, values, stories, and experiences for your family. This might include letters to your children or their guardian, medical decisions you’d make, or even a legacy video. Our goal is to help you create something meaningful beyond just legal documents. This meeting is also where you will receive your Estate Planning Portfolio.

The entire process typically takes six to eight weeks, but we can adjust it as needed. We look forward to meeting you and guiding you through the process.

Here’s what to expect at a Legacy Planning Session. From the moment you contact us until your first appointment, here's what happens:

When you call our office, you'll speak with me or my assistant. We’ll answer your questions, schedule your appointment, and send you a welcome email. This email will provide information about who we are, how we differ from others, and our focus on helping you leave a legacy, not just preparing legal documents.

Before your appointment, we ask you to complete the Estate Planning Questionnaire. This helps us learn more about you and prepares us for your meeting. Completing this homework will also help you become more financially organized.

The fee for the Legacy Planning Session is $750. However, if you complete and submit the pre-work before the meeting, we will waive this fee, as you will have already done what is needed to have a productive meeting.

During the session, I’ll review everything you own and everyone you love to understand your family dynamics and wishes. I’ll explain how the law would affect your family if something happened to you today, and together we’ll design a plan to protect your assets and loved ones.

To get started, use the link below to schedule a complimentary 15-minute call. We look forward to helping protect your children and family through comprehensive planning.

This varies from attorney to attorney, and you often get what you pay for. For example, if you use an online service for $20, you might end up with a plan that’s worth about that much and could cause your family significant issues down the road. 

You should find an attorney who drafts high-quality legal documents in accordance with state laws, reflecting your wishes about how your assets are distributed and who is in charge. Additionally, you want an attorney who maintains an ongoing relationship with you as life changes, not just someone who sees estate planning as a transaction.

We recommend choosing an attorney who offers flat fee pricing rather than hourly rates. Hourly billing can be unpredictable, whereas flat fees are agreed upon in advance, providing clarity on costs. 

For us, estate planning is about more than just legal documents. We include a way to capture your legacy called our Legacy Interview -- who you are as a person, your values, and stories that might otherwise be lost. The legal documents are essential, but the legacy pieces are what truly matter to your family.

If you’d like more information on our fee schedule, feel free to call us.

From my experience working with families every day, I can tell you there are questions you might not even think to ask. Many clients have expressed relief that we explored questions they hadn’t considered, ensuring everything was covered.

I do not recommend DIY estate planning because professionals can help with nuances and considerations you might miss. Estate planning involves more than just filling out a document; it includes understanding probate, essential elements to include, and the importance of having professional advice to ensure real peace of mind.

A fill-in-the-blank document from an online service, like LegalZoom, might provide a false sense of security. Professional advice ensures that all aspects of your estate plan are thoroughly addressed and provides the peace of mind that your plan is comprehensive and effective.

Many people believe that a will covers every estate planning contingency. This is not true. A will doesn’t address what happens if you’re incapacitated or disabled, and it must go through probate court to be effective. A will also does not include short-term guardianship nominations, among other things, for a more comprehensive Kids Protection Plan.

Check out our other FAQs on “What’s a Will?” and “Should I Avoid Probate?” for more information on why a will alone is not sufficient.