Whether you just moved into your new home or you’re planning your move, there may be one important thing you’re forgetting to account for – your estate plan! Moving should be a catalyst to update your estate plan if you have not done so already, especially if you moved to a new state. If you have recently moved to Pennsylvania, it’s important to understand that the estate plan you currently have in place may not be valid. This blog explores what you should know about your out-of-state will and how Pennsylvania estate planning attorneys can help you through these complicated matters.
Do I need to update my out-of-state will if I move?
When you move to a new state, your estate plan is likely the last thing on your mind. However, it’s important to make updating these documents a priority. Though you may not want to change any terms or conditions of the plan, you should know that the language and terminology included in these documents vary from state to state. As such, you may have conditions included in your will that cannot be honored in Pennsylvania due to the language used in the documents. Common provisions in a will that may need to be altered include martial property, who your executor is, and who can serve as your medical or financial power of attorney.
Additionally, in your will, you likely have terms and conditions regarding your home and how you would like this asset to be handled. However, when you move, you likely no longer own that property and own your current home. As such, you’ll want to ensure your estate plan reflects this. If you do not update your will to include your new property, it may be considered an intestate asset since it was not included in your will.
How can I make the necessary changes?
If you have just recently moved to a new state and are ready to update your will, it’s important to understand that you shouldn’t try to update your estate plan on your own.
It’s in your best interest to meet with an experienced attorney who can help you make the necessary changes for this process. Unfortunately, trying to make changes on your own can impact the validity of your entire will, more than a few language-barred sections.
As you can see, the process of updating a will can be incredibly complicated and requires a deep understanding of state-specific language to ensure your will is legally valid in your new state. Luckily, the team at Friedman Schuman Layser is ready to assist you. We understand how complicated these matters can be, which is why we’re ready to assist you. Connect with our team today to learn how we can fight for you.
