Have you made a move recently? While your checklist may seem lengthy, take care to include one very important item. Update your estate plan. Relocating can have significant impacts on the effectiveness of your estate plan and merit updating accordingly. Let us discuss more on why you should prioritize updating your estate plan after a move.
If your estate plan was properly executed according to the laws of the state in which you previously resided, it will most likely remain valid under the laws of your new state. While valid, however, there can be complications that remain with an estate plan that is not updated. For instance, certain provisions of your will or estate plan could be rendered invalid or ineffective under the laws of your new state. Did you know, for example, that some states require the personal representative of an estate to either be a resident of the state in which probate will occur or a close family member of the deceased? If your estate plan provision for your personal representative runs afoul of such a state law, it is likely to be rendered invalid.
Additionally, while they may remain technically valid, health care documents, such as a health care surrogate, may not be honored in your new state. While your new state laws may recognize the validity of a health care document properly executed in another state, it may fail in practicality. Some health care providers may challenge the validity of a form that they are not familiar with in the moment when you need it to be recognized the most. Updating your estate plan to include health care documents of your new state can be the best way to help ensure that they will be recognized and accepted if and when the time comes when you need them to be.
There may also be logistical inconveniences that come with certain provisions of your estate plan when looked at in light of your move. Did you choose a personal representative, health care surrogate, or agent pursuant to a power of attorney that lives in another state? Take some time to reevaluate your choices to see if a local, trusted individual may make more sense to serve in such roles.
For assistance in reviewing and updating your estate plan after a move, our office is happy to assist. Please contact us to set up an appointment time.