For many Mississippi residents, the word “probate” brings to mind delays, courtrooms, legal fees, and public scrutiny. Probate is a legal process that is necessary to validate a will and transfer assets after someone’s death. However, it can be a lengthy, expensive, and emotionally challenging process for loved ones. Fortunately, with proper estate planning, particularly through the use of trusts, you can avoid the need for probate in Mississippi. 

Trusts allow you to ensure that your assets are transferred smoothly and privately to your chosen beneficiaries, avoiding the complications and costs associated with probate. At Gregory D. Keenum, PA, our Booneville-based estate planning firm, we help clients leverage the power of trusts to protect their legacies and spare their loved ones from the burden of probate court. Our experienced attorneys can help you create a plan that meets your unique needs and goals.

What Is Probate in Mississippi?

Probate is a legal process that involves the administration of a deceased person’s estate. This process is supervised by a court and includes validating a will (if there is one), appointing an executor, paying debts and taxes, and distributing assets to heirs. Even if there is a valid will, many estates in Mississippi will need to go through probate because most assets are held in the name of the deceased person.

Probate in Mississippi can take several months or even years, depending on the complexity of the estate and whether any disputes arise. This is a public process, which means that your will, the value of your assets, and the names of your beneficiaries become a public record, which can be a concern for some families who value their privacy.

How Trusts Bypass Probate

A trust is a legal agreement in which a trustee manages assets on behalf of beneficiaries. Unlike a will, which only becomes effective after death and requires probate, a revocable living trust allows for immediate and private transfer of assets upon death, without the need for court involvement.

When you place assets such as real estate, bank accounts, or investment accounts in a trust during your lifetime, these assets are removed from your probate estate and instead governed by the terms of the trust. Your successor trustee will distribute these assets according to your instructions outside the probate process.

Types of Trusts That Avoid Probate

Revocable Living Trusts

The most common tool for avoiding probate in Mississippi is a revocable living trust. As the grantor, you retain full control over the trust assets during your lifetime and can change or cancel the trust at any time. After your death, the trust becomes irrevocable, and your designated successor trustee will distribute the assets according to your instructions – without the need for court approval.

Because the trust holds assets, and not the individual, they are not subject to probate. This is especially beneficial for real estate in multiple counties and states, as it avoids additional probate procedures.

Irrevocable Trusts

While less flexible, irrevocable trusts also avoid the probate process and offer additional benefits such as asset protection and potential estate tax reduction. When assets are transferred to an irrevocable trust, they become separate from your taxable estate, which can be advantageous for high-net-worth individuals and those planning for Medicaid eligibility.

Specialized Trusts

Other types of trusts, such as special needs trusts and spendthrift trusts, also avoid probate and address specific family needs. A special needs trust, for example, ensures that a disabled beneficiary continues to receive support without risking their government benefits, while avoiding the delays associated with probate.

Important Considerations: Funding Your Trust

Creating a trust is the first step towards avoiding probate. To ensure that your assets are not subject to probate, you need to properly fund the trust by re-titling them in the name of the trust. Many people think that signing a trust document is enough, but your assets could still be subject to probate if they are outside of the trust’s scope.

When Probate Might Still Be Necessary

Even with a trust, some assets may accidentally remain outside it, such as newly acquired property or untitled accounts. That’s why many clients also create a “pour-over” will, which directs any remaining probate assets to the trust upon death. While this may cause a small probate process, it acts as a safety measure and ensures that all assets ultimately follow the terms of the trust.

Plan Ahead with Trusted Legal Guidance

Avoiding probate in Mississippi is not just about convenience. It’s about protecting your family’s time, privacy and financial well-being. Trusts provide a powerful, legally sound solution that aligns with your wishes and minimizes the need for court involvement.

If you’re considering creating a trust as part of your estate planning, don’t go through this process alone. At Gregory D. Keenum, PA, we provide personalized and experienced guidance for residents in Booneville and North Mississippi. Whether you’re setting up your first trust or updating an existing one, we can help you create a strategy that avoids probate, reduces conflict, and honors your wishes.

Contact us today to schedule a consultation and take the next step toward a smarter, smoother estate plan.