Moving? You May Want to Check Your Estate Plan
May 23, 2012 By John R. Vermillion & Associates, LLC
Moving can be an incredibly stressful time. Even if you've planned well and the move goes without a hitch there are a lot of potential legal issues involved with your estate plan that you may need to address if you move to a new state. While moving within the same state usually doesn't require any significant changes to an estate plan, moving across state lines can sometimes be problematic.
Here's what you need to know if you have an estate plan and have moved to a different state.
Issue One: Your Will
When you create a Will, you do so in accordance with the laws of the state in which you live. Once you move to a new state, an entirely different set of laws apply. While you may still use your old Will in your new state, it is often best to consult a local estate planning attorney to make sure your old Will is good. You may have to make some slight changes, and it may be wise to rewrite your Will altogether.
Issue Two: Your Representatives
Apart from moving across state lines, you should consider editing or updating your estate plan if your move has taken you a considerable distance from your previous home. The people you named in your will as your representatives, such as your choice of replacement guardian, your estate executor, and your agents for your powers of attorney, are usually people who are nearby you at the time you made the documents. If your agents need to act on your behalf, such as your executor filing your Will after you die, it may be difficult to do this if your executor is located thousands of miles away. Review your estate plan after you move and consider changing your representatives so they are closer to you.
ABOUT THE AUTHOR: John Vermillion
Experienced estate planning attorneys Dallas TX of the John R. Vermillion & Associates, LLC offers estate planning and business planning resources to residents of Dallas TX.
Copyright John R. Vermillion & Associates, LLC
More information about John R. Vermillion & Associates, LLC
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
Issue One: Your Will
When you create a Will, you do so in accordance with the laws of the state in which you live. Once you move to a new state, an entirely different set of laws apply. While you may still use your old Will in your new state, it is often best to consult a local estate planning attorney to make sure your old Will is good. You may have to make some slight changes, and it may be wise to rewrite your Will altogether.
Issue Two: Your Representatives
Apart from moving across state lines, you should consider editing or updating your estate plan if your move has taken you a considerable distance from your previous home. The people you named in your will as your representatives, such as your choice of replacement guardian, your estate executor, and your agents for your powers of attorney, are usually people who are nearby you at the time you made the documents. If your agents need to act on your behalf, such as your executor filing your Will after you die, it may be difficult to do this if your executor is located thousands of miles away. Review your estate plan after you move and consider changing your representatives so they are closer to you.
ABOUT THE AUTHOR: John Vermillion
Experienced estate planning attorneys Dallas TX of the John R. Vermillion & Associates, LLC offers estate planning and business planning resources to residents of Dallas TX.
Copyright John R. Vermillion & Associates, LLC
More information about John R. Vermillion & Associates, LLC
View all articles published by John R. Vermillion & Associates, LLC
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
