Out of State, Out of Date

Out of State, Out of Date

If you created your will when you lived in another state, you will need to update your will when you legally change (or add) your residence to a new state. As baby boomers are retiring, they are buying second homes and moving to warmer climates. Generally speaking, estate laws are similar from state to state, but there are sufficient difference to warrant a visit to a lawyer in the state where you have retired.

The most successful way to contest a will is to challenge the conditions under which it was signed. (How many witnesses? Was it notarized?) Unfortunately, the laws that govern the conditions that make the will valid are the laws that vary the most from state to state. Without a review, your will could be considered invalid because of how it was signed in a different state.

In addition, there are differences in the laws that govern how your estate moves through probate. Bank accounts, business ownership, and real estate titles could all be compromised because they were created or documented in ways that don’t conform to the estate laws of your new state.

If you have moved as part of your retirement, take the time to visit a lawyer who knows the estate laws in your new home state. Small changes now could mean saving additional heartache and frustration after your passing.