When planning to relocate, you probably take steps to ensure a smooth, stress-free move, such as securing a residence and setting up utilities in advance.
Like most, you probably give little thought to updating your estate plan. Yet, it is a critical consideration when moving to a new state. Such updates help your plan comply with state laws and continue protecting your interests.
Here are some steps to complete upon a move to California.
Review your will
Your final will is one of the most critical documents in your estate plan. Review your existing will with a representative to ensure it meets California’s legal standards, including witness signatures and notary provisions.
Update your trusts
If trusts are part of your plan, update them to reflect California laws. Review the trust’s language and make amendments if required. Updated trust documents facilitate accurate asset distribution that honors your wishes.
Revise powers of attorney
A power of attorney grants someone authority to make decisions for you if you cannot. Since each state has different requirements, having someone review and update your powers of attorney is vital to help ensure validity.
Check health care directives
California has specific requirements for advance health care directives, which outline your medical care preferences if incapacitated. Update your directives or create new ones to align with state law and guide your loved ones in a crisis.
Re-title assets
Assets like real estate, bank accounts and investments may need to be re-titled in California. Review all your assets and update titles and beneficiary designations per California rules, if necessary.
With legal guidance, a proactive approach can prevent unforeseen problems that could make your existing estate plans invalid after your move.