Moved to New Jersey, do you need to get your Will re-done?

Here’s what you should look at:

1. Executor – Does the person you have named as executor live out of state? That may cause complications and expenses. It may make sense to name an executor who lives in-state. Additionally, some states have restrictions on who may be an executor.
2. Probate – The probate process is different from state to state. Depending on the process in your state, there may be strategies you can put into your estate plan to make the probate less complicated and expensive.
3. Death Taxes – What are the Estate Tax and Inheritance Tax laws in your new state? Do your documents now include unnecessary information or are they missing essential clauses?
4. Marital Property – Some states are “community property states” and others are “common law states.” If your documents were prepared in one type of state and you moved to the other type, there can be problems with your estate plan. To ensure your property is transferred the way you intend, it is important to review your documents.
5. Advanced Directives and Healthcare Powers of Attorney: Not all states have laws accepting out-of-state advanced directives or healthcare powers of attorney. Make sure you don’t end up in a situation where healthcare providers are hesitant, or refusing, to accept your documents.

Move or Not - Review your Documents

What may seem insignificant can create unintended consequences for your estate plan, and if you do not take care of updating it accordingly, it can cause issues for your executor or in your assets passing in the manner you intended. 

Click here to schedule your free, no-obligation document review with one of our experienced estate planning attorneys. We know that moving is overwhelming, and this is one more thing on your to-do list.

What happens at your meeting? We will review your documents, answer all your questions, and determine the right plan of action. Further, we will ensure your documents are legal in New Jersey and are set up to transfer your assets as you wish.

Whether you retain Gray Law Group or not, you will know the status of your estate planning documents.