Making the move to a new state may offer a refreshing chance to start all over. With this, you may wonder whether you have to also start over with creating new estate planning documents. Read on to discover what happens to your estate plan if you move states and how a seasoned New York City estate planning attorney at Zimmet Law Group, P.C. can circle back to your documents alongside you.
What happens to my estate plan if I move to or from New York State?
It is generally said that a will that is considered valid and enforceable in your former home state may be considered similarly across state lines. However, it may be wrong to blindly assume this; and rather in your best interest to look into the estate laws of your new home state. Without further ado, below are examples of when you might need to update your estate plan upon moving to or from New York State:
- New York State requires two witnesses to be present at the signing of your will and sign it themselves; while other states may require a different number of witnesses or signature parameters.
- New York State is a common law state that follows the theory of equitable distribution; while other states are community property states that have all marital property jointly owned and split.
- New York State prohibits an executor who resides outside of its state’s borders; while other states may allow an out-of-state executor so long as they are a United States citizen.
With that being said, your trusts and powers of attorney are other estate planning documents that are worth updating upon your move.
What else should I update in my estate plan?
Even if you believe that the estate laws in your new home state align with those in your former home state, this may still serve as a great opportunity to review your plan. After all, it is a common rule of thumb to revisit your estate planning documents whenever you undergo a significant life change, such as a move.
For one, this may be a great time to ensure that the names and contact information of all your beneficiaries are up to date. This is in case, since establishing your documents, your beneficiaries have gotten married and thereby legally changed their names; or if they have made a move to a different residential address themselves. Overall, this clears up any confusion that may arise when it is time for your documents to go into effect.
All in all, to ensure the validity and enforceability of your documents, you must turn to a competent New York City estate planning attorney. So please get in touch with us at Zimmet Law Group, P.C. as soon as you get a free chance.