Most people in the United States know that laws can vary significantly from state to state, and the laws regarding estate planning are no exception. Before you move to a new state, it’s crucial to understand whether you need to make any changes to your estate plan. Keep reading to learn about which estate planning documents will be valid and which need to be updated.
Is My Will Still Valid in a New State?
Your most recent will should still be valid when you move to a different state. However, it is essential to note that probate laws can vary significantly from state to state. This may mean that certain aspects or provisions in your will may no longer be ideal. Before moving, you should confirm whether your new state has any special provisions you may wish to use instead.
Are Powers of Attorney Portable?
In theory, powers of attorney and healthcare directives should be honored regardless of your state of residence. However, in practice, certain institutions may not recognize documents created in other states. Furthermore, states’ protocols for properly creating these forms and the authorization they provide can vary. To be safe, it is usually best to draft new powers of attorney documents based on the laws of the state where you will be relocating. The title companies, doctors, and bankers that need to see these forms will likely be more familiar with the in-state versions, thereby decreasing the risk of confusion.
Do I Need to Update My Trusts?
If you are the grantor of a revocable trust, you can generally change its provisions if necessary to be sure that it works in your new state. This makes this type of trust more portable than many other aspects of an estate plan. However, it is always a good idea to check with your estate planning attorney to be sure that you know whether there are any specific changes you may need to make.
Should I Change My Executor?
If the state to which you are moving is a considerable distance from where you are now, you may want to consider naming a new executor of your estate. This is because your executor will probably need to spend considerable time in your final location, and it may not be practicable for them to do so if they live far away. For similar reasons, you may want to change your trustee or the agents to whom you have chosen to grant powers of attorney.
Contact an Estate Planning Attorney
If you are moving to a new state, updating your estate plan as soon as possible can save you time and energy in the long run. Working with an experienced estate planning attorney can help you understand exactly what you need to do to ensure your estate plan is effective in your new location.
If you’re reading this blog today and moving to the Tampa area and you have questions about whether your older plan will work once you relocate to our state, please do not hesitate to reach out to our law firm by calling (813) 438-8503. We would be happy to schedule a virtual consultation with you to help ensure that your affairs are in order as soon as you are settled in place in Florida.