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On June 11, 2026, Mississippi lawmakers made significant changes to the state's trusts and estates laws, affecting how individuals can plan their estates and transfer wealth to future generations. The new legislation, which was passed by both the House and Senate and signed into law by Governor John Doe, includes updates to existing trust laws and regulations governing estate planning.One of the most notable changes is the introduction of a new tax on large estates. Under the new law, estates valued at $5 million or more will be subject to a 10% tax on the total value of the assets. This tax is aimed at generating revenue for the state while encouraging estate planning strategies that distribute wealth more equitably among heirs.Additionally, the new legislation includes provisions for digital estate planning, allowing individuals to designate a digital executor who will have the authority to manage their online accounts and digital assets after their passing. This measure is designed to address the increasing importance of digital assets in modern estate planning and ensure that individuals have control over their online presence even after death.In terms of trusts, the new laws provide greater flexibility for settlors to create and manage trusts for the benefit of their heirs. Specifically, the legislation allows for the creation of perpetual trusts, which can exist indefinitely and provide long-term financial support for future generations. This change is expected to make trusts a more appealing option for individuals looking to protect and preserve their wealth for their descendants.Overall, the updates to Mississippi's trusts and estates laws represent a significant step forward in modernizing the state's legal framework for estate planning. By introducing new tax regulations, addressing digital assets, and expanding trust options, lawmakers have demonstrated their commitment to ensuring that individuals have the tools they need to effectively plan for the transfer of their wealth and assets to future generations.