Someone who has just relocated or made an offer on a local property may need assistance with their real estate transaction. They may then want to continue partnering with that attorney to review and update their estate plan due to their move. Especially when someone moved to Georgia’s Lake Country from another part of the nation, reviewing an estate plan might be necessary for legal protection.
Why do people need to revisit their estate plans after moving to Georgia from elsewhere?
A change in resources and relationships
A move from one state to another inevitably Alters someone’s personal circumstances. Their decision to move to Georgia likely alters their portfolio of personal resources. If nothing else, the real estate they need to include in their estate plan has changed. In many cases, a move might also lead to changing personal relationships. An estate plan is most effective when it is up to date and reflects someone’s current relationships and assets.
Compliance with state law
Georgia has unique probate statutes that people have to comply with if they want to control the descent of their property after they die. If someone does not update their documents after moving, they put themselves at risk of the courts refusing to uphold their estate plan. Family members could also potentially challenge an estate by asserting that it is outdated and did not reflect someone’s true wishes at the time of their passing.
If the Georgia probate courts do not uphold someone’s estate plan, then the decedent’s closest family members may inherit all of their property. Any plans to bequeath specific assets to certain people, to leave resources for charitable causes or to include non-relatives in the list of beneficiaries can end up ruined by outdated or unenforceable documents.
Taking the time to update an estate plan after a move to Lake Country can give someone peace of mind as they settle into their new home. Those who have changed their circumstances often need to change the documents they have in place for their protection as well.