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Post by Deleted on Oct 18, 2022 16:20:15 GMT -5
Some folks on the boards have moved to different states or are contemplating such moves in the future. I just wanted to remind my online peeps to make sure your critical documents like wills, POA's, medical directives and trusts are updated as needed to meet the requirements of your new home state. As in so many other areas such as Medicaid, the United States are not the uniform states  |
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NoNamePerson
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Post by NoNamePerson on Oct 18, 2022 16:24:02 GMT -5
Good reminder. I went thru this when I had to move my mother here back in 94 due to her failing health. The difference in some things between states was interesting to say the least.
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Pink Cashmere
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Post by Pink Cashmere on Oct 18, 2022 16:57:28 GMT -5
It has nothing to do with what state I live in, but I REALLY need to change the beneficiaries on my insurance and accounts.
They are still the same from when I first started working my current job. At that time, I made my Mom a beneficiary of a percentage of most things that really mattered, because I figured if I’d died while my children were minors, somebody would need money to finish raising them.
That is no longer the situation, so I really need to get my stuff in order again.
Thank you for the reminder.
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NoNamePerson
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Post by NoNamePerson on Oct 18, 2022 17:05:10 GMT -5
People also forget to look at things that need changing when they get divorced. I was fortunate that my attorney had a list for me of things to consider.. he had a new will drawn up and I picked it up same day my divorce papers was signed off by judge. Had to redo some things as soon as my son was legal adult.
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tallguy
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Post by tallguy on Oct 18, 2022 17:13:08 GMT -5
To add to the reminder:
My GF splits the year between two homes, and wanted me to accompany her to an appointment with an estate planner a year or two ago. We were having a good discussion and he had a lot of good information. It then came out that we were not in the state that is her official residence, so we couldn't really do anything. The tax consequences would be worse in one as opposed to the other, so yes, it does matter. A lot of things are state-specific, and what was good for your previous state may not be as good for your new one. The plan should be set up in and for the state in which you live.
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finnime
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Post by finnime on Oct 18, 2022 18:10:43 GMT -5
Thanks for the reminder, from a recent interstate nomad.
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Post by Deleted on Oct 20, 2022 14:47:39 GMT -5
Good reminder. I went thru this when I had to move my mother here back in 94 due to her failing health. The difference in some things between states was interesting to say the least. My favorite example: Louisiana law is based on the Napoleonic Code. Years ago in NJ, when I couldn't get my then-husband to a lawyer to draw up wills and we owned a house and had a child, I used Willmaker software. The packaging stated that if you'd accidentally bought it for use in Louisiana it was useless there and you should return it for a full refund. I'm happy to say that I do have a real will now drawn up by a lawyer and legal in my state. |
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NoNamePerson
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Post by NoNamePerson on Oct 20, 2022 15:04:23 GMT -5
Good reminder. I went thru this when I had to move my mother here back in 94 due to her failing health. The difference in some things between states was interesting to say the least. My favorite example: Louisiana law is based on the Napoleonic Code. Years ago in NJ, when I couldn't get my then-husband to a lawyer to draw up wills and we owned a house and had a child, I used Willmaker software. The packaging stated that if you'd accidentally bought it for use in Louisiana it was useless there and you should return it for a full refund. I'm happy to say that I do have a real will now drawn up by a lawyer and legal in my state.  I always said the only thing I would do in Louisiana in a legal sense was drink! Had a friend meet a guy, marry within two months! I’m almost ashamed to admit it but my first thought was “oh sh##, she’s marrying in the worst state to get a divorced”. And she found out the hard way two years later  Those laws may have changed by now so who knows! |
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finnime
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Post by finnime on Oct 21, 2022 4:32:46 GMT -5
We have a pour-over will for a living trust. The trust will have to be amended anyway, since at the time it was written my DS was a minor. Assets in the trust have changed, too, with our move. Guess we'll just have to find a Mass. state lawyer. Plus, ensure there are direct beneficiaries for the current liquid assets.
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