I've moved states. Do I need to update my Trust?

This is a frequently asked question! Below are a few considerations to point you in the right direction.

• If more than your address has changed-

  • If you need to alter who will fulfill the roles within your estate plan, if the state estate tax limits increased or decreased, or if your net worth has significantly changed, then an update (a restatement or amendment) might be warranted.

  • It's always best to have a plan that reflects your current wishes and intentions. However it's also important that it follows your state's specifics, incorporating important legislation, terms and provisions.

• If you've recently moved states but have no other major changes-

  • Consider updating your "powers": Power of Attorney - Financial and Power of Attorney - Health Care.

    • These documents usually vary from state to state and your new state of residence (the state of your permanent address) may require references to state-specific legislation and/or other provisions.

      
      

• What if my move is not permanent and my state of residence is not changing?

  • Updating your documents shouldn't be necessary if this is a temporary relocation that is not effecting your state of residence. Individuals traveling for work often find themselves away from home for long periods of time. If maintain your permanent address you should travel with a copy of your documents.

    • We often recommend client take their "powers" with them when traveling within the US or abroad. If a worst case scenario arises you'll be thankful you have these.