With all the moving parts that must be handled in your move to a different state, your estate plan is likely the last thing on your mind. However, once the dust settles, you must carve out time to revisit these documents, especially your will. This is primarily because you cannot blindly assume that your new home state has estate laws that perfectly align with that of your former home state. Follow along to find out what happens to the validity of your will when you move states and how a proficient Putnam County wills attorney at The Law Office of Andres D. Gil, PLLC can help you in your update or rewrite.
What happens to the validity of my will when I move states?
To reiterate, your new home state may have estate laws that contrast that of your former home state, which may ultimately threaten the validity and enforceability of your will. As an example, say that you are moving to New York State, a state that requires two witnesses to be present at the signing of your will; along with requiring these witnesses to sign it themselves. However, say that you are hailing from Maine, one of the few states that does not require the signing of your will to be witnessed at all.
In another example, say that you are moving to New York State but the designated executor of your will is not. Well, New York does not allow for out-of-state executors. This is unless you assign a coexecutor of your will who is a New York State resident.
What other circumstances constitute an update or rewriting of my will?
Generally speaking, your estate plan should perfectly align with your current status in life. This is why it is typically recommended to update or rewrite your will after going through a significant life change. So besides making a move to another state, below are examples of when you should revisit your will:
- You have legally changed your name upon getting remarried; therefore prompting an update in your personal information within your life insurance policies and retirement accounts.
- You have welcomed new children, stepchildren, grandchildren, and stepgrandchildren into your family; therefore prompting an update in your beneficiary designations.
- You have gotten divorced or have been sadly widowed; therefore prompting an update in your beneficiary designations.
- You have lost trust in your appointed executor or have sadly outlived them; therefore prompting an update in your executor designations.
- You have inherited significant assets upon a loved one’s passing; therefore prompting an update in your assets distributions.
All in all, to ensure the validity and enforceability of your will, you must turn to a talented Putnam County estate planning attorney. So please get in touch with us at The Law Office of Andres D. Gil, PLLC as soon as you get a free chance.