Wills

[kikiriki20]

My husband and I had a will drawn up in Texas eight years ago after the birth of our last child. Three years ago we moved to California. I am concerned about the continued validity of the will, since we are no longer Texas residents. Since my husband had other children before we were married 21 years ago, a will was absolutely necessary for my financial security. Would this will be considered valid in California? Is it absolutely necessary to have yet another will drawn up? In addition, I have heard from a few people that it is important to have a living trust in California. Would you advise that? I would appreciate a response. Thank you.

 

[ALawyer]

A Will legally prepared in one US jurisdiction would be valid in another. BUT many states have particular laws that are unique, and while the Will may be valid, the survivors may have to go extra expense and extra delay as the out of state will may not meet the new state's rules for estate management, easy admission to probate, etc.

Many people in California use a Living Trust for most property, such as a home and investments, and a "pour-over" will for the rest, such as cars. Also, check the beneficiary designations on insurance and 401k and IRA and similar plans.

It really does make sense to have a CA lawyer review your estate plan. And as the estate taxes start at 37% and go up from there -- and even the new President does not plan to eliminate it all at once, it is worth a look see by a lawyer.