Updating Your Will When You Have Moved
If you have a will, most likely it hasn’t been updated in years. If you’ve moved due to a job change, or retired and moved to a different state, you should consult with an experienced and qualified attorney in your new state.
Most wills are still valid in the new state you’ve moved to, however, there may be significant differences in the new state’s laws. These differences could make parts of your will invalid.
Moving should inspire you to consult with an attorney to go over and make sure your will and your estate plan is compliant with your new state’s laws, especially if any real estate property is involved. Our probate, estate planning, elder care, wills and trust attorneys are experienced to help you update your will, or create a will to ensure your estate is compliant with Colorado laws.
Let’s imagine a person has moved to Colorado, but also has a home that is located in Arizona. The property (home) may have to go through both probate in Arizona and another probate in Colorado for the estate (the net worth and assets).
Probate is the process where the estate of the deceased goes through after they die. The heirs can be notified of the decedent’s death and that a will has been produced. The heirs are given the opportunity to challenge the validity of the will. During probate, the estate’s matters are settled, debts are paid off and the remaining property is dispersed to the proper heirs and beneficiaries.
When there is probate in a second, third or fourth state, this is called “ancillary probate”. Ancillary probate is a term for having two or more probate proceedings going on at the same time in different states. The executor of your estate will most likely have to hire another attorney in each of the states where the properties are located.
When a person is deceased, probate is begun in the person’s state of residence (often called “domiciliary probate”). Because the deceased had property in Arizona, a second probate court case (ancillary probate) is opened in Arizona. Once the decease’s will has been accepted in Colorado, it will generally be accepted in Arizona where it is called a “foreign will”. The executor of the estate can acquire the powers and responsibilities of an Arizona executor by filing papers issued in Colorado probate court.
To spare your family from the additional expense of an ancillary court proceeding after your death, consult with our probate attorneys. Making your out-of-state property should be a priority. There are several options to avoid the ancillary probate such as setting up a revocable living trust, recording a transfer-on-death deed for the property, setting up ownership of the property with another person through joint tenancy, community property with the right of survivorship or tenancy by the entirety. Our Denver wills attorneys can review your situation to offer the solution that would best fit your needs.
If you have recently moved, or are thinking about moving, you my need to update your will to conform with the wills & trusts laws in your new state. It is important to do this to avoid probate court.
Our wills attorneys can quickly and efficiently update your will if needed. Call 303-618-2122 to schedule your consult.