Moving is a big hassle, and it could be worse if you do not adjust your estate planning with it. Anne Bjerken of Gray Plant Mooty recommends a few steps to avoid any problems in estate planning after moving to another state or country.
Some new states may have different tax laws, and while execution of a will is most likely valid in another state, its interpretation may differ. Also, moving to another country may change the whole situation dramatically because of different tax and estate legal system.
It will be worthwhile to check the new state or country’s tax and other legal environments regarding estate planning to maintain your financial health.
See How Does Moving Impact Your Financial and Estate Plan Health?, Anne Bjerken, JDSupra.
Posted by Jin Keol Park, Associate Editor, Wealth Strategies Journal