Ask Terry Questions Plan your estate event on October 14, sponsored by Aetna

Plan your estate event on October 14, sponsored by Aetna

By Terry Savage on October 19, 2022 | Financial Planning / Retirement

Please clarify what you said about what needs to be changed in a trust if you move to another state. Thank you

Terry Says

There may be a lot of small legal issues depending on the state to which you move. So get an attorney in that state (or see if your current attorney is registered in that state) and let them make the changes. YOu don’t have to change any of your distributions, for example. But surely if you don’t want your residency challenged, you need to change the relevant addresses in the trust documents. And there may be other, smaller issues that only your new attorney would find. You would, of course, show them the original documents and say you want nothing changed but your state of residence — and any other legal issues that may be specific to your state.
OR, this is a good time (same billing hours!) to make any amendments you might want to add.

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