Retirement to a warmer state should spark a fresh look at an estate plan.
As people near retirement, they often consider relocating to a warmer state but that southern comfort can also have an impact upon an estate plan, according to the Middletown Transcript in “MAKING CENTS: From snowbird to flamingo.”
What many people do not realize is that if they change their state of residence, then they may also need to change their estate plans.
An estate plan crafted by an expert estate planning attorney is created with your individual state of residence in mind and making sure that state laws are followed. The estate plans are designed to work for the individual states. That means they may need to be changed to reflect the laws of a new state of residence.
An estate planning attorney can advise you on the specific laws of your new state home, should you consider relocation.
Reference: Middletown Transcript (Jan. 17, 2017) “MAKING CENTS: From snowbird to flamingo.”