Relocating to a new state often creates issues affecting estate planning. Many people wonder if they need a new will or trust when they move from one state to another. Although a will or trust validly executed in one state should be valid in a different state, it is a good idea to have the estate planning documents reviewed. By addressing issues related to the relocation, an individual can avoid certain problems and maximize possible benefits.
Although no one wants to create problems between beneficiaries of the estate, even small handwritten changes can create great problems.
The revocable trust (aka “living trust” or “family trust”) is a popular way to plan for your future. However, despite the popularity, trusts are not without potential problems. In deciding what is best for your family and estate, here is some basic information about revocable trusts.
Even if you have never signed a will or trust, you have an estate plan. Some of you may be asking, “How?” The answer is the state has a “default estate plan” for those without their own.
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