Do I Have to Update My Estate Plan if I Move to Another State?

You may have wanted to be ahead of the curve in establishing your estate plan, as wisely so. However, since then, you may have undergone significant life changes that may make your established estate plan an irrelevant and/or inaccurate representation of your present self. For example, you may have since made the move to or from the Commonwealth of Pennsylvania. Read on to discover whether you have to update your estate plan after making a move to another state and how one of the seasoned Butler County estate planning & probate attorneys at Heritage Elder Law & Estate Planning, LLC can assist you in these necessary revisions.

If I move to another state, is it required that I update my estate plan?

Simply put, the new state you move to may have a different set of legal requisites for estate planning documents; thereby making it in your best interest to establish a new set of documents.

However, you may rest assured knowing that you do not have to start over entirely. This is because you have already determined which estate planning documents to incorporate into your plan, along with what your primary goals are for each document. So the only thing left to do is simply revise the terms and conditions within each document according to your new home state’s estate laws.

Without further ado, below are updates that you may need to consider upon moving to another state:

• In your life insurance policies and retirement accounts, you may need to consider changing your address to that of your new home state.
• In your durable, healthcare, and financial powers of attorney, you may need to consider appointing a new individual who can serve in your new home state.
• In your last will and testament, you may need to consider appointing a new executor who can serve in your new home state.
• In your living trust, you may need to consider adding the home you purchased in your new home state.

What other circumstances might require me to update my estate plan?

It is a general rule of thumb that you should circle back to your estate plan upon experiencing any major life change. That said, in addition to moving to another state, you might want to consider updating your estate plan under the following circumstances:

• You experience a change in your marital status.
• You experience a change in your number of dependents.
• You experience a change in whom you trust as an executor.
• You experience a change in the amount of assets making up your estate.

All in all, to ensure a valid and enforceable estate plan, you must turn to one of the competent Butler County estate planning attorneys. So please get in touch with us at Heritage Elder Law & Estate Planning, LLC as soon as you get a free chance.