Bankruptcy does more than just change your bank account. For a lot of people in Southern Mississippi, it’s a stressful reset button. However, it’s also a chance to start over without the stress of old debts. When the court closes your case, the bills stop coming after you, and you can finally think about the big picture again. That’s when you should take a closer look at your estate plan.

Why Your Old Plan Might Not Work Anymore

The plan you made before bankruptcy was built for a different life. Maybe you had more property then, or different accounts, or a life insurance policy you’ve since changed. Some assets might have been sold to pay creditors, while others, like a Mississippi homestead up to a certain value, were protected. If your will or trust still lists property you no longer own, or leaves money to people you no longer intend to benefit, you’re leaving behind a legal mess for your family.

How to Regain Stability Before Making Big Changes

There’s no rush to rewrite everything the day after discharge. First, make sure your footing is solid. That means:

  • Keeping your job or finding steady work.
  • Paying every bill on time, no matter how small.
  • Holding onto a bank account (even a basic or “second-chance” account works).
  • Using credit sparingly: Secured cards can help, but only if you pay them off each month.

Jumping into new loans too soon can undo months of hard work. Think of this as rebuilding the foundation before adding new rooms to the house.

Protecting What You’re Building Now

Once your finances feel steady, your estate plan can reflect that. You could start over with your will or make a trust to keep your property out of probate. You could change your life insurance to make sure your dependents are covered, or you could check your retirement accounts to make sure the right people are named.

Let’s Make Your Fresh Start Last

We’ve helped people across Southern Mississippi protect what they’ve rebuilt after bankruptcy. At O’Brien Law Firm, LLC, we understand you don’t want to go through financial loss again, and a strong estate plan is part of that protection. Call us at 662-672-7619 or use our online intake form to get started.

Share this Post