Different states have different rules and laws, and some people are surprised to learn that some of these regulations can apply to their estate plans. If you have created a plan in another state and then move somewhere new, you may need to make some updates in order to stay compliant with local laws. There are also some changes that you may want to make just because it makes things more convenient. Whatever the case may be, a Washtenaw County estate planning attorney from our firm can help you if you need to make any changes.
Is My Will Valid in Another State?
In most cases, your will should be valid in a new state when you move. However, it’s important to note that this is not guaranteed. Different states have different rules for estate planning documents like wills and powers of attorney. It’s a good idea to make sure that everything in your estate plan is legally binding.
What Kinds of Rules Can Change From State to State?
While many legal documents can travel from state to state, you may still find that some important rules have changed when you take up residence in a new place. Probate, which is the court process used to distribute a deceased person’s assets, can differ in some important ways from state to state. Some states have different rules about who can be an executor and whether or not they can reside in a different state. There are even different rules about marital property, complicating how some assets could be distributed once you have passed away.
This is why it is critical to learn about local laws and to make sure that your estate plan has no holes in it. Our lawyers can help you ensure that your beneficiaries receive the assets that you’ve put aside for them, and that can hopefully minimize confusion and any in-fighting among family members after you pass.
What Else Should I Do After a Move?
Once you have updated your estate plan to meet any legal requirements, you can review and edit any other part of your plan. You should look at beneficiaries for any accounts you have or life insurance policies and update them if necessary. If you have established any trusts, now may be the best time to make sure that all of the assets that you want to go into your trusts are in the right place.
Talk to an Estate Planning Lawyer
Once you’re settled into your new home, take the time to make sure that your estate plan is in order. Contact Collis, Griffor & Hendra to schedule an appointment with an experienced estate planning lawyer. We can answer any questions that you have about Michigan laws and how you can protect your assets.