Are you new to Texas?  Well then, “Howdy!”  Over 150,000 have joined us in our corner of the Lone Star State in the last year.  Hopefully, before you moved to Texas, you had good, up-to-date estate planning.  But, since estate planning laws are different from state to state, if Texas is now your residence, you need to have your estate planning reviewed.  We happily review the estate plans prepared by attorneys from different states at no cost.  We can then make a recommendation of anything that needs to be done.

Here is what is typical for someone who moves to this state.

  • You’ve done no estate planning: Well, then, now is the time, pardner!  You will need a will, or living trust, and medical and financial powers of attorney.  You may have other needs as well.
  • You had will and powers of attorney drafted in another state: Sometimes, but not always, it is necessary to redo a will that was drafted in another state.  There are particularities of a Texas will that are not always present in other states’ wills.  It is a case-by-case analysis on whether you need a new will.  Because power of attorney forms are different from state to state, we almost always recommend that powers of attorney be changed to be compliant with Texas law.
  • You have a revocable living trust plan: A revocable living trust is the least likely document to be revised simply because you moved from one state to another.  The most common change we make is to do a simple amendment to make the trust applicable to Texas law, and then we almost always update a medical power of attorney.  Otherwise, if your situation has not changed, just your state of residence, the revocable living trust probably does not need any significant redo and the changes are simple and straightforward.

We are happy to assist you with whatever your needs may be, and we always offer a consultation and make recommendations before you owe us any money.  As you can see from the above discussion, if you are a person who anticipates moving from one state to another, or making multiple moves during your lifetime, a revocable living trust is the most economical solution in the long run.  We are here to advise you of the pros and cons of any choice, and look forward to helping with your decisions., and we always offer a consultation and make recommendations before you owe us any money.

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, specific tax, legal or accounting advice. We can only give specific advice upon consulting directly with you and reviewing your exact situation.