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Wednesday, September 22, 2021

Add Estate Planning on Your Moving To-Do List

Moving can be a great adventure! Sometimes a change of scenery and a new place to grow roots can be the start to an exciting new chapter of your life. As you embark on your fresh start, you likely have a long list of things to get done. There will be the logistics of settling into your new home. It may include updating your driver’s license and vehicle tags. It may include updating your mailing address. Have you remembered, however, to include updating your estate plan on your list? While too often overlooked, updating your estate plan after a move can be important for a number of reasons.

Add Estate Planning on Your Moving To-Do List

Most all states will recognize the validity of estate planning documents that were properly executed in and pursuant to the laws of another state. While these documents may be technically valid, however, it does not necessarily mean they will continue to be effective and meet your own personal goals. Health care documents, such as a health care surrogate, for instance, may be valid, but not effective when you need to use it. When presented with an unfamiliar out of state form, healthcare workers may be leery to accept it at face value. They may want to take or for you to take further steps to verify its validity and legitimacy. This can cause an undue delay at a critical moment. Updating your forms in your new state can help prevent this delay so that you can use these documents when you need them.

Additionally, while your estate planning documents may be held up as valid in your new state, certain provisions may be rendered ineffective or invalid under the laws of your new state. For instance, some states specifically require personal representatives to be residents of the same state as one in which the decedent’s estate will be probated. If you selected a personal representative in some other state, such as the one you just moved from, your selection will not be upheld and the court will have to select someone else.

There are also many other layers of estate planning laws that can vary fairly widely from state to state and can have notable impacts on an estate plan. State estate tax is one such thing. While you may have formerly resided in a state without a state level estate tax, your new state may have a state level estate tax in place. Furthermore, the state estate tax may have a lower exemption amount than the federal estate tax. This means that while you may not have planned accordingly on ways to avoid estate taxes in your former state, you may want to take a look at your potential estate tax exposure in your new state. It can be a costly oversight for your estate and one worth planning to avoid accordingly.

Estate Planning Attorney

As life and laws change, so should your estate plan. This will help ensure it most accurately reflects your goals and provides the most effective legal protections for you and your loved ones. If you have moved recently, reach out to the team at Monk Law. Contact Monk Law today.


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| Phone: 803-594-4453
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| Phone: 704-369-9977

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