Texas Estate Planning: What to Do If You’re Going Out of State

Texas estate planning can be a complex and often confusing process, especially when you’re considering traveling or relocating out of state. Whether you are a resident of Texas planning a temporary or permanent move, it is crucial to understand the implications for your estate plan. Here are some key considerations and steps to take when planning your estate while going out of state.

1. Review Your Current Estate Plan
Before you leave Texas, take the time to review your existing estate plan. Ensure that your wills, trusts, and other legal documents accurately reflect your wishes. Pay close attention to the laws governing estate planning in Texas, as they may differ significantly from those in the state you are visiting or moving to.

2. Understand State-Specific Laws
Each state has its own set of laws regarding wills, trusts, and probate. For example, some states may have stricter requirements for the validity of a will, or they may have different tax implications. Research the estate planning laws in the state you are going to, especially if you are considering making that your new home.

3. Consider Changing Your Domicile
If you plan to move permanently, you may need to change your legal domicile. This involves establishing residency in your new state, which can include registering to vote, filing tax returns, and obtaining a new driver’s license. Changing your domicile can significantly impact your estate plan, as the laws of the new state will govern your estate upon your passing.

4. Update Your Documents
If necessary, consider updating or creating new estate planning documents to comply with the laws of the new state. This may include drafting a new will, creating a new power of attorney, or setting up a new healthcare directive. Ensure that all documents are properly executed according to state laws to avoid complications in the future.

5. Communicate with Your Attorney
It’s essential to have open communication with your estate planning attorney, especially if you are leaving the state for an extended period. They can provide guidance on how to protect your estate plan and ensure your wishes are honored, regardless of your location.

6. Keep Beneficiaries and Heirs Informed
While planning your estate, make sure to keep your beneficiaries and heirs informed about your decisions and changes. It is crucial for them to understand your wishes and any updates to your estate plan, especially if you are relocating to a different state.

7. Keep Copies of Important Documents
Make copies of your important estate planning documents and keep them in a safe place. If you are traveling, consider carrying a set with you. This will ensure that you have the necessary paperwork on hand in case of an emergency.

8. Plan for Tax Implications
Be aware of the potential tax implications of your move. Different states have varying estate and inheritance tax laws. It may be beneficial to consult a tax professional to discuss how your move might affect your estate plan and overall tax strategy.

In conclusion, if you’re planning on going out of state, be proactive in managing your Texas estate plan. By reviewing your documents, understanding state-specific laws, and keeping your estate planning attorney informed, you can ensure that your wishes will be honored, regardless of where you are living. Proper estate planning will provide peace of mind, allowing you to focus on enjoying your new adventure.