Tag: new home

Moving to a New Home? You Might Need Changes to Your Estate Plan

If you plan to move to a new home, you may need to make some changes to your estate plan. No matter if whether your new house is across town or across the country, a major life transition like a move is a good time to review your plan.

Why Would Your Estate Plan Need Changes When You Move?

There are many reasons that your estate plan might need some changes when you move. For example, laws are different in various counties and states. If your new home is in a new state, you should locate an estate planning lawyer in your new area to review your current plan. You might be surprised how much local laws can affect the language and provisions of your estate planning documents.

Further, you may want to change your chosen trustees and agents. It is often a good idea to select a local trustee to manage a trust or a local agent in your power of attorney. That way, he or she is nearby if an emergency arises and can readily handle your affairs without added costs for travel. If your trustee or agent is now far away, consider making edits to your plan.

Moreover, you may have sold your previous house, purchased a new house, or sold other valuable possessions in the course of the move. Perhaps your move happened at the same time as other life changes like marriage or divorce. As a result, you may need to revise important documents such as your will to include a description of the new house or take out the description of the old house. You will want the documents to reflect those life changes too. Signing a new will or other documents is a good reminder to purchase insurance and complete other legal requirements connected to the new property, too.

Documents that need changes are not limited to your will or trust. If you signed powers of attorney, have advance medical directives, or own LLCs or corporations, all may need some revision. This could be as simple as submitting changes of address or as complicated as preparing new documents to comply with your new state’s laws. Most likely, you will need an estate planning lawyer to help you identify the necessary changes.

How Do You Get Started Changing Your Estate Plan?

Again, reach out to some local estate planning attorneys in your new location. If you are still in the same state, the lawyer who prepared your estate plan originally may be able to help. If you are in a new state, ask for local recommendations from friends and neighbors. With a little legwork, you can make the necessary changes to make sure your plan reflects your wishes.

Want to start planning your estate? Local attorney Andrew Szocka, Esq. provides thorough and speedy estate planning help in the Chicagoland area. To schedule a free initial consultation, visit the Law Office of Andrew Szocka, P.C. online or call the office at (815) 455-8430.

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