Moving to a new state can be a fun but overwhelming experience. After moving to Louisiana, a new resident needs to get a new driver’s license, update vehicle registrations, find a new school for children and so much more. In the middle of all of this, it can be easy to overlook something else that needs updating — estate planning.
All states have their own estate planning laws that affect everything from estate taxes to what happens when someone dies intestate, meaning without a will. If someone creates an estate plan to work specifically with another state’s laws, it might not function as intended in Louisiana. There may also be problems when it comes to:
- the executor
- living wills
- powers of attorney
People generally want a trusted friend or relative to act as executor. However, naming an executor and then moving across state lines can prove problematic. Executors need to live in the same state to take care of important duties, so it is important to name a new executor after moving.
Living wills and powers of attorney also need updates. Louisiana health care professionals may not be familiar with medical directives forms from other states, making it difficult to honor a patient’s last wishes. As with the executor, medical and financial powers of attorney should name individuals who live in the same state to prevent any unnecessary delays in important decisions.
Adding in another thing to tackle during the moving process might feel impossible, especially something like estate planning, which requires careful attention to the future. This does not mean that a new Louisiana resident should simply skip this important process. Instead, he or she may want to consider speaking with a knowledgeable attorney who can provide guidance on the matter.