If you’ve recently moved to a new state, it’s important to set aside some time to review your estate plan. While it isn’t always necessary to completely revise your estate planning documents after a move, you may have to make some changes. Here are three tips that can help guide you in adapting your estate plan after your move.
Tip 1: Change your representative/agent.
Unless you’ve moved only a short distance, you’ll probably want to revise any estate plan document that contains an agent, personal representative, or other person who will act on your behalf. For example, if you name a healthcare agent who is now no longer close to you, it’s impractical to expect this agent to be ready to meet with your health care providers should you need the agent to make medical decisions for you.
Tip 2: Update your Will.
Any will you create Will technically still be valid once you move to a new state, but there are some practical concerns that may make updating your will a very good idea. For example, all states have different laws that govern how much a spouse is entitled to upon the other spouse’s death. If you created a Will in a state that has a different spousal inheritance scheme then your current state does, it’s important to update your Will to reflect the change.
Tip 3: Update medical directives.
Each state has specific laws on medical directives, and it can be problematic to try to use a directive from a different state in your new one. It’s safest to simply create a new medical directive even if you aren’t changing any of the terms.