Updating Your Estate Plan After Moving to Oklahoma
A move to a new state is one of those major life events that should trigger a review of your estate plan. Estate laws vary from one state to the next, so your old estate plan might no longer be the best fit under the laws in Oklahoma. While your beneficiaries and other details of your estate plan might not change, there could be smaller administrative changes that are required. If you have recently moved to Oklahoma, review the details below about updating your estate plan.
Estate Planning Checklist After a Relocation to Oklahoma
The specific steps you need to complete will depend on several factors, such as:
- The details of your current estate plan
- The laws in the state you moved from
- Which estate planning documents you are using
- Whether any of your goals or wishes have changed
However, after you move to Oklahoma, there are several pieces of your estate plan that you should review. After your relocation, you should:
Re-execute Your Will
Since estate laws vary between states, you want to ensure that your will is valid under Oklahoma law. Oklahoma requires either two witnesses or one witness and a notary for your will to be valid. For this reason, it is best to re-execute your will with a local attorney once you have moved to Oklahoma. Failure to do so could mean submitting an out-of-state document to probate court, and that could present some unexpected challenges.
Review Your Trust and Named Trustees
Similar to estate law, trust law also varies between states. If you have a revocable living trust in place, it should be reviewed for compliance with Oklahoma trust law. Additionally, you may consider naming a new successor trustee if your existing trustee still lives in the state where you moved from. Another option would be to select a local professional trustee who is familiar with Oklahoma trust law.
Draft New Power of Attorney and Healthcare Proxy
Even if you already have a power of attorney or advance health directive, it is wise to execute new versions once you move to Oklahoma. The law in Oklahoma requires these documents to contain specific language, and the form you used in another state might not meet the legal requirements. Drafting and executing new versions will ensure that you have properly appointed someone to act on your behalf or make medical decisions for you in the event you are unable to do so for yourself.
Finding a Local Oklahoma Estate Planning Attorney Who Can Help
If you have recently moved to Oklahoma, it is wise to find a local attorney with a deep understanding of Oklahoma estate and trust law. At Helton Law Firm, we can help you perform a thorough evaluation of your current estate plan and make any necessary updates to ensure that it complies with all Oklahoma rules. Contact us today to schedule your consultation and let us help you ensure that your estate plan is valid and will keep your family protected even after your move.
