Mississippi adopted the Uniform Trust Code in 2014, making it one of the more recent adoptions in the Southeast. Before that, Mississippi trust law was governed by a patchwork of older statutes and common law. The adoption of the UTC gave the state a modern, comprehensive framework for trust administration. The Mississippi Trust Code is found at Miss. Code Ann. Sections 91-8-101 and following.
This guide applies to both revocable and irrevocable trusts in Mississippi.
Where Mississippi trust law lives
Mississippi's trust statutes are codified in Miss. Code Ann. Title 91, Chapter 8. The code follows the standard UTC structure with relatively few modifications. Mississippi's adoption replaced an older and less organized set of trust rules, bringing the state into alignment with the majority of states that have adopted the UTC.
Accounting and notice requirements
Mississippi follows the standard UTC notice framework. Trustees must notify qualified beneficiaries within 60 days of accepting trusteeship of an irrevocable trust. This notice must include the trust's existence, the trustee's contact information, and the beneficiary's right to request a copy of the trust instrument and receive annual accountings.
Annual accounting is required to qualified beneficiaries under the default rules. The trust creator can modify some notice provisions through the trust instrument, but the core duty to keep beneficiaries informed cannot be entirely eliminated.
While the trust is revocable and the trust creator is alive and competent, the trustee's duties run primarily to the trust creator.
Mississippi's statute of limitations for breach of trust claims follows the UTC's standard framework, with claims barred after a specified period following adequate disclosure.
Trustee duties
Mississippi trustees must administer the trust in good faith, following the trust's terms and purposes, and in the interests of the beneficiaries. The standard UTC duties apply: loyalty, impartiality among beneficiaries, prudent administration, and prudent investing. Trustees must keep trust property separate from personal property and maintain adequate records.
Compensation follows the trust instrument first, with "reasonable under the circumstances" as the default standard if the instrument is silent.
What makes Mississippi different
Recent UTC adoption. Mississippi was one of the last Southeast states to adopt the UTC (2014). This means the body of Mississippi case law interpreting the UTC is still relatively thin compared to states like Tennessee or South Carolina that adopted the code in the mid-2000s. In practice, Mississippi courts may look to other UTC states' interpretations for guidance on questions that have not yet been decided locally.
Self-settled asset protection trusts. Mississippi enacted provisions allowing self-settled asset protection trusts, joining Tennessee and other regional competitors in offering this planning tool. This allows a trust creator to establish a trust in Mississippi and, under certain conditions, protect the assets from their own future creditors.
No state estate tax or inheritance tax. Mississippi does not impose a state-level estate tax or inheritance tax. Only the federal estate tax applies to estates exceeding the federal exemption threshold.
Standard UTC modification tools. Mississippi provides the full suite of UTC modification options, including nonjudicial settlement agreements, court modification for changed circumstances, and modification by consent. These tools are especially valuable for updating older trusts that were created under Mississippi's prior trust laws.
TrustHelm tip: Because Mississippi's UTC is relatively new, your trust may have been created under the older legal framework. TrustHelm's document vault and AI-powered analysis can help you understand what your trust says and how it interacts with the current Mississippi Trust Code.
The most common Mississippi trust mistakes
Not funding the trust. The single most common trust mistake in every state: assets must be properly transferred into the trust to avoid probate. Real estate needs a new deed, bank accounts need to be retitled, and beneficiary designations may need to be updated.
Not updating older trusts. Trusts created before Mississippi adopted the UTC in 2014 may include language and provisions that do not align well with the current code. Reviewing and potentially updating these trusts can ensure they work as intended under the new framework.
Missing the 60-day notice deadline. When a trust becomes irrevocable, the trustee must notify qualified beneficiaries within 60 days. This is a common stumbling point, especially for family members who suddenly become trustees after a death.
Not providing annual accountings. Regular accountings protect the trustee by starting the statute of limitations clock. Failing to provide them leaves the trustee exposed to claims for a longer period.
When to talk to an attorney
You should consult a Mississippi trust attorney if you have a trust that was created before the 2014 UTC adoption and want to review it under current law, if you are considering an asset protection trust, if you have been named as trustee and need to understand your obligations, or if you are a beneficiary who has not received information about an irrevocable trust.
If you need help finding a qualified estate planning attorney in your area, visit TrustHelm's Find an Attorney tool.
This guide is for educational purposes only and does not constitute legal advice. Consult a qualified attorney for decisions about your trust.