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2023-11-28

Update Your Will, Trust, and Power of Attorney When You Move

Jacob Miller

Learn why it's important to update your will, trust, and power of attorney when you move to a new state and how it can impact your estate plan.

Update Your Will, Trust, and Power of Attorney When You Move

Changing your estate plan is a crucial step to ensure that your assets are distributed according to your wishes. When you move to a new location, it is essential to update your will, trust, and power of attorney to align with the laws of your new state.

What Is Unique About People Interested in Changing Their Estate Plan?

Individuals who are considering changing their estate plans are typically those who have experienced a major life event such as marriage, divorce, birth of a child, or relocation. Moving to a new state may require adjustments to the existing estate plan to comply with the local laws and regulations.

Nuances by State

Each state has its own laws and regulations governing estate planning documents. When you relocate to a different state, it is crucial to review and update your will, trust, and power of attorney accordingly. Failure to do so may result in complications during the probate process or incapacity.

Example Scenarios

  1. Moving from California to Texas: In California, community property laws apply, while Texas follows separate property laws. If you move from California to Texas, you may need to revise your estate plan to reflect the change in property ownership.

  2. Relocating from New York to Florida: New York has different estate tax laws compared to Florida, which does not have a state estate tax. Updating your estate plan when moving from New York to Florida can help minimize tax implications.

Other Questions to Consider

  • What documents should I review when updating my estate plan after a move?
  • Can I use online services to update my estate planning documents?
  • Is it necessary to consult an attorney when changing my estate plan after relocation?

By staying informed about the importance of updating your will, trust, and power of attorney when you move, you can ensure that your assets are protected and distributed according to your wishes.

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