Estate planning is an important step in passing on land that is to be kept it in the family. If you have land that has been in your family for a long time, there are provisions to include in your will that will ensure that it is kept in the family in the future.
Let us help you carefully inventory your property and assets and then construct a will that includes provisions and/or creates a trust to protect the land and keep it in the family. In Mississippi (and in many other states), without a will, land descends to your spouse and children in equal shares. A Will can let you specify what will happen with your property. This is especially important if you are in a second marriage or siblings or children have died before you.
If you want to make sure the land stays in the family, setting up one or more Trusts which lays out the terms of use and how you expect the property to be handled by your descendants is a good way to do so. Good planning can help reduce conflict and help maintain family unity.
Read an article we wrote called “Why Do I Need to Make a Will?” for more insight into the estate planning process and benefits.
Resources
Learn more about estate planning by visiting these online resources
- “Get ahead of your estate planning” CNNMoney Money 101
- The Wall Street Journal SmartMoney articles on estate planning
- “Estate Planning: What You Need to Know” The New York Times
- “Protecting Your Assets: Some Strategies” The New York Times