Mississippi Probate Forms - Mississippi Probate Forms

We offer thousands of Probate forms. Some of the forms offered are listed by area below. For others, please use our search engine.

Mississippi Probate Forms FAQ Executor Of Estate Form

What is probate? 

When a person dies, their assets are distributed in the probate process. Probate is a general term for the entire process of administration of estates of deceased persons, including those without wills, with court supervision. If a person dies with a will, a petition to probate the will is filed with the probate court in the county where the deceased resided at the time of death, asking for letters testamentary to be issued, giving the executor authority to handle the estate affairs. If a person dies with a valid will, an executor is named to handle the distribution of the estate. If the person dies without a valid will, the court appoints an administrator to distribute the decedent's assets according to the state's laws of intestacy. The court will issue letters of administration, also called letters testamentary, to the administrator, giving the authority to handle the affairs of the deceased. An heirship affidavit may also be used to conduct estate affairs when a small estate is involved. In cases where the decedent didn't own property valued at more than a certain amount, which varies by state, the estate may go through a small estate administration process, rather than the formal probate process.

What are the duties of an executor? 

The executor's obligations are generally to: a. Safeguard the property and assets of the estate; b. Inventory (or make a list of) the property; c. Submit accounts or inventories to the court as required (these could be waived); d. Pay the debts and expenses of the deceased (such as funeral and burial expenses, medical expenses, and credit card bills); e. Pay any federal or state death taxes, if any; and f. Distribute the estate to those named in the will or, if no will exists, to your heirs as designated by statute.

How can probate be avoided? 

All property of a decedent may not be subject to the probate process. Some assets, such as insurance policies or cd’s may name a beneficiary or pass automatically to a surviving joint owner outside the probate estate of the will. Assets held in trust, or in an account or policy with an insurer or financial institution with a named beneficiary, typically pass outside the probate process. Such assets go to the named beneficiary outside the probate process. If it is a survivorship account, or transfer on death account, it passes outside the probate process. Property held in trust is distributed according to the terms of the trust. It is possible to write a "pourover" clause in a will, so that property "pours over" into the trust, which is exempted from probate. The involvement of the court to transfer such property is not required. A bank account or motor vehicle title may also specify a death beneficiary and thus be exempt from the probate process.

Tips for Preparing Mississippi Probate Forms

  1. Start probate. Before you start preparing Mississippi Probate Forms, verify that you're eligible to become an estate executor. In situations where a deceased person didn't name an executor, the court can assign one. To begin with the procedure, you should submit a application for probate, a valid will, along with the death certificate to the court.
  2. Gather evidence. Obtain and look through the details you have to use to submit the Mississippi Probate Forms properly, get ready probate documents, then present them to the court. The procedure can require retirement and bank accounts and stocks and shares, real estate like a home, and personal belongings as collections and other valuable items.
  3. Handle debts and taxes, and expenses. Make sure that the assets you dispose of can cover all financial obligations, rents, and expenses. Otherwise, the legal court will focus on claims of loan companies. In addition, you're accountable for filing an income tax return and paying taxes.
  4. Distribute belongings. When you're completed paying debts, you can start working on the next thing. The remaining assets is split between the beneficiaries (brothers and sisters, parents, spouse and next of kin) or by the will.
  5. Close estate. Collect statements and records, and other probate paperwork during the overall procedure and after that send them to validate that you settled an property and completed the Mississippi Probate Forms according to federal and state requirements.

What is a Small Estate Affidavit?

A Small Estate Affidavit is a legal document that allows a person to claim the assets of a deceased individual without having to go through the lengthy and formal probate process. In Mississippi, a Small Estate Affidavit can be used if the total value of the deceased person's assets, such as bank accounts, real estate, or personal property, does not exceed a certain amount determined by the state law. This affidavit can be filed by the rightful heirs or beneficiaries of the deceased person's estate, and it helps simplify the transfer of assets and property to the rightful owners. It is a helpful option for those who have lost a loved one and need to manage their affairs in a quicker and more straightforward manner.


What is Considered a “Small Estate”?

In Mississippi, a "small estate" refers to an estate (the belongings and property left behind by a person after their death) that has a relatively low value. Simply put, it means the person didn't have a lot of money or valuable assets. In Mississippi, if the total value of the estate is less than $50,000, it is generally considered a small estate. This includes things like money in bank accounts, real estate, personal belongings, and other assets. When someone passes away with a small estate, the legal process to distribute their belongings can be simpler and less costly. It's important to note that each state in the U.S. may have different rules regarding what is considered a small estate, so it's always wise to consult with a legal professional for accurate and specific advice.


Small Estate Requirements by States

Small estate requirements are rules set by states to simplify the process of distributing assets after a person passes away without leaving a will or having a small value of assets. In Mississippi, if a person dies without a will and their estate is valued at $50,000 or less, it may qualify as a small estate. This means that the assets can be distributed to beneficiaries without going through the lengthy and expensive probate process. It's important to note that each state has its own specific limits and procedures for small estates, so it's always recommended consulting with a legal professional to fully understand the requirements in your state.


How to Use a Small Estate Affidavit

Using a Small Estate Affidavit in Mississippi is a straightforward and efficient way to handle the estate of a deceased person when the value of their assets is minimal. To begin, gather all the required documents, including the death certificate, a list of the person's assets and debts, and any relevant financial information. Next, complete the affidavit form, ensuring that all necessary details are included and accurate. Once complete, sign the affidavit before a notary public and have it filed with the appropriate court. It is crucial to provide a copy of the affidavit to anyone who possesses the deceased person's assets, such as banks, creditors, or insurance companies. Finally, once the court approves the affidavit, you will be able to access the assets and distribute them accordingly. Remember, if the estate does not meet the criteria for a small estate affidavit, it may be necessary to pursue alternative legal options.


Affidavit of Heirship vs. Small Estate Affidavit

In Mississippi, when someone passes away without a will, there are two common ways to handle their estate: the Affidavit of Warship and the Small Estate Affidavit. Let's simplify these terms a bit. An Affidavit of Warship is a legal document that verifies who the rightful heirs are and their shares of the deceased person's property. It helps the heirs establish their claim to the estate. On the other hand, a Small Estate Affidavit is used when the total value of the estate is relatively small, typically less than a certain amount specified by state laws. This affidavit allows the heirs to claim the property without having to go through a formal probate process. Both affidavits serve as important tools in settling an estate, but they are used in slightly different situations.