Estate Planning for Your Move to a New State

If you plan on moving to a new state, then you need to consider the new state’s rules governing your estate planning documents and taxes. Before moving to a new state, you should meet with your estate planning attorney to change your wills and trusts according to the new state’s laws. Also, it is important to review the roles of fiduciaries in that particular state because of specific executor requirements.

Furthermore, when moving to a new state, there are also tax implications you must review, and some states have significant variations. For tax purposes, you must be able to prove you abandoned your previous domicile and adopted the new domicile. This is important because, if not, you may still be liable for your old domicile’s income taxes or unexpected estate taxes.

See Day Pitney Estate Planning Update, Estate Planning Update July 2016 – Moving to a New State?, Day Pitney LLP, July 14, 2016.

Special thanks to Jay Stapleton (Quinn & Hary Marketing) for bringing this Article to my attention.