Some Considerations For Your Will:
In the event you die with assets in your name, and without a will, the distribution of your estate will be governed by statutory provisions. The process of distributing one’s estate that dies without a will is called “Intestate Succession”. If you die and are survived by a spouse and children, your estate will typically be divided equally amongst your spouse and the children. If you only have children or grandchildren that survive, then your estate will be divided amongst them. However, if you are not survived by a spouse, children or grandchildren, your estate will pass by operation of law to your parents, brothers and sisters, grandparents, aunts and uncles, or cousins. Although Intestate laws are not problematic, you may prefer to take control of the way your assets are distributed and have peace of mind knowing that your loved ones are cared for.
A Will Can Protect Your Spouse:
A common misconception is that everything automatically goes to the surviving spouse if a husband or a wife dies. Although this is true regarding jointly owned property, in Mississippi the surviving spouse is only entitled to a portion, about one half, of the individually owned assets of the deceased spouse. The remainder of the assets will pass to any surviving children. If you want your spouse to own everything after your death you will need to have a Will that expresses those intentions.
A Will Can Appoint Guardians For Your Children:
A major concern for many individuals is how to plan for the future care of minor children upon the unfortunate and untimely death of both parents. A Will can appoint guardians who will care for your children in the event this happens. Rest your worries and plan for your future today. Contact an experienced Mississippi Family Law Attorney.
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