Insights & Legal Guidance from the Glover Russell Team

Just like with everything else concerning the law – it depends. When someone dies in Mississippi with a valid will, the legal proceeding for distributing the decedent’s assets is called probate; otherwise, if no will existed, the proceeding is called administration of an intestate estate. Regardless of the type of legal proceeding, probate or administration may not be necessary. It depends on the value of the decedent’s assets at the time of his or her death and how the asset

Recently, the Mississippi Supreme Court ruled against the Mississippi Department of Revenue (MDOR) in its attempts to collect over $4 million from Isle of Capri Casinos, Inc. Isle of Capri computes its Mississippi corporate income and franchise tax on a combined basis with all its affiliated entities; however, when the entities file a combined return, each entity is jointly and severally liable for the entire amount of tax due. For tax years 2004-2007, four of the Isle of Cap

You have worked hard to build a legacy. Don’t let the State determine how it will be left. Planning for your estate is a vital necessity, and we can help you do it. From simple wills to complex trust agreements, we can assist you in protecting and providing for you and your family. When planning for your future and the future of your loved ones, it is important to have an estate plan in place and to regularly review and update it to keep up with your ever-changing life. If yo

The Internal Revenue Service recently made an important change to its rules for IRA rollovers. IRA rollovers are transactions that allow you to withdraw cash from one IRA and redeposit it in another IRA without paying tax, which is a popular way of moving IRA money around from one investment to another. An IRA withdrawal is reported on your tax return but is treated as a tax-free transaction if: You redeposit the amount you withdrew from the IRA into the same or other IRA no

The Mississippi Department of Revenue (MDOR) has the authority under Miss. Code Ann. § 27-65-31 to assess a 300% penalty on all sales tax collected during the course of business that a taxpayer does not remit to MDOR. We are seeing MDOR assess the 300% penalty more frequently than before. Our firm is leading the fight against this excessive and unduly burdensome penalty. We have been successful in having this penalty abated and will continue our efforts to defend our clients

1. Right the First Time! Your Will is your plan for the future. It is one of the most important documents you will sign. Every decision you make in your will affects your family’s future. We have the experience to prepare your Will to tailor it to your unique situation. Have Glover Russell, P.A. prepare your Will the right way, the first time. 2. Mistakes are Forever! Mistakes are not only costly, they can be irreversible. Unintended consequences may result in family disputes

For many individuals, the power of attorney can be a very useful tool for planning purposes due to its simplicity, convenience, and flexibility. A power of attorney is a legal document under which a person, referred to as the “principal,” appoints another person as his or her “agent” and gives the agent the authority to act for and on behalf of the principal. A “general” power of attorney terminates when the principal becomes mentally incapacitated, and a “durable” power of a

While Mississippi may be quite a few miles from Denver, Colorado, recent headlines prove that regardless of one’s geographical location, social stature, wealth or position, estate issues can- and likely will- rear their ugly head, even in the best of familial structure, when one least expects it. NFL fans far and wide are undoubtedly aware of the passing of Pat Bowlen, former owner of the Denver Broncos franchise, who died in last summer, two months prior to his induction int

by Jennifer Scoggins, CLA At last check, the subject of dying was not high up on the list of topics to discuss over Sunday dinner with the family. In fact, most attempt to avoid discussing it regardless of the venue or timing- simply, there isn’t anything “fun” or pleasant to attribute to the subject. Yet, while we all have an aversion to contemplating the realities of death and the idea of our own mortality, much less that of our loved ones, it is more important now than eve

There are many types of professionals utilized by lawyers to enable them to perform their jobs efficiently, accurately and successfully. One of those, which many are unaware exist, is a Forensic Accountant. Forensic Accountants are not the atypical “accountant” or CPA, i.e. who you take your personal taxes to, or look to for guidance when buying or selling a business- their work is far more complex. Simply, each and every financial transaction made in today’s modern society l