Maybe you’ve moved to another state since the execution of your will or trust. State laws vary, and it is important to ensure that your estate planning documents still make sense. A change in “domicile” can also result in significant income tax benefits/detriments. If you are lucky enough to spend significant time in more than one state, ask an estate planning professional for advice about whether or not to change your domicile.
Changes In Tax Laws
The constant change in state and federal tax laws are the most important factors that will affect your estate plan. It is paramount that you remain informed of these changes and consult an attorney who specializes in wills and estate planning to remain ahead of the curve.
Christelle J. Jean-Felix is an associate at Boston law firm Rackemann, Sawyer & Brewster, uniquely serving in two departments: family law and trusts and estates. Heidi A. Seely is a trusts and estate lawyer at Rackemann, representing families and individuals in estate planning, estate administration, tax planning, trust administration and other trusts and estate needs.