Expert Wills and Estate Planning Attorney in Tupelo, MS
Whether you're starting your estate plan or need to update existing arrangements, we're committed to providing you with peace of mind and a secure legacy for generations to come.
Estate plans are dependent on the specific needs of the individual. At Amanda Todd Daniels we will make a comprehensive plan for you that can include:
A will is a legal document stating how your property and assets should be divided in the event of your death, and who will take care of your surviving minor children. If no will is in place, the state makes all of these decisions. In your will you can specify:
Our team will help you prepare a will that keeps as much of your estate as possible out of probate court, ensuring your privacy and saving your family added court costs.
A living will is a document which records a person's wishes regarding medical treatment in the event in which they are no longer able to give informed consent. It will tell your family if you want to be kept on life support in specific situations, as well as address other important questions regarding your preferences about artificial hydration, tube feeding, and pain medication in terminal or persistent vegetative situations.
Many people have strong feelings about life support in these situations, and living wills are a tool that allows them to document their wishes. Doing so takes the burden of these decisions off your family's shoulders and allows them to know your desires and follow your directives.
Estate and Gift Taxes are taxes that are imposed when your assets are transferred from one guardian to another, either during life or at death. At Amanda Todd Daniels, one of our main goals when creating your estate plan is to prevent having the money you have worked hard to accumulate during your lifetime going to the government rather than your children or descendants.
A Family Limited Partnership (FLP) is a type of arrangement in which family members pool money to run a business project. Each family member buys units or shares of the business and can profit in proportion to the number of shares he or she owns, and as outlined in the partnership operating agreement.
Family Limited Partnerships have two types of partners. General partners usually own the largest share of the business, and they are responsible for day-to-day management tasks such as overseeing all cash deposits and investment transactions. The general partner may also take a management fee from profits if outlined in the partnership agreement.
Limited partners have no management responsibilities. They instead buy shares of the business in exchange for dividends, interest, and profits the FLP may generate.
The legal team at Amanda Todd Daniels will help you create a Family Limited Partnership that addresses your specific needs.
Non-probate transfers are a simple way to allow the involved parties to avoid the probate process. Many types of property transfer free of probate, including property left to a surviving spouse and property left outside of a will through probate-avoidance methods such as pay-on-death designations, joint tenancy ownership, and life insurance.
Probate can occur in the absence of a will, when the will is contested, and in other specific situations. The process involves the legal administration of the estate of a person who has died including accounting for property, paying off any debts, and distributing the remaining assets. If you need to contest a will or trust or defend your interests in an estate dispute, the team at Amanda Todd Daniels has the expertise needed to make sure your best interests are protected.
When a person is incapacitated and can no longer conduct his or her affairs, a conservatorship may be the best solution. A conservatorship gives a designated individual the authority to make certain decisions for the incapacitated individual. A financial conservator makes financial decisions and pays bills for the individual. Our legal team can advise you and help you decide if a conservatorship best fits your needs.
Unlike a conservatorship, a power of attorney (POA) is created before a person becomes incapacitated. A POA must be created by a person who is competent at the time the document is created. However, a durable POA may continue to be in effect after the individual becomes incapacitated.
A power of attorney allows an individual to designate someone (called the attorney-in-fact) to act as his or her representative in specific situations. For example, an individual may delegate all financial powers and responsibilities to a designated person, using a power of attorney, so that if that individual becomes incapacitated, the attorney-in-fact can make necessary decisions for them.
The Law Office of Amanda Todd Daniels understands how important it is for you to take care of your family in the event of your death. We will work tirelessly to create an estate plan that protects your assets and makes sure your loved ones are well taken care of. Call us today at (662) 678-8009 to schedule a consultation.
“Amanda was so easy to work with and got everything done in a short amount of time. We are so thankful for her hard work, reassurance, and expertise.” – Lane Poland