Dear Liz: I have a will, properly done by an attorney, in my home state of Texas. I’m thinking of moving to California. Will the state of California recognize and accept my will?
Answer: The short answer is yes, but you should consult a California attorney anyway.
California generally recognizes a will that was valid under the laws of the state where it was executed. But moving to another state can affect other aspects of your estate plan.
Probate in California — which is the court process that typically follows death — can be expensive and protracted. A will doesn’t avoid probate, but a living trust can. The two states also differ in how marital property is treated, even though both are community property states.
Two other documents you should have — a power of attorney for finances and an advanced healthcare directive — also would benefit from updating. These documents allow you to name trusted people to make decisions for you if you’re incapacitated. Having California-specific versions could make it easier for financial institutions and medical providers to accept them. Plus, it’s generally a good idea for the person making healthcare decisions to be physically nearby. That makes it easier for them to get to the hospital in an emergency, consult with doctors and see for themselves how you’re doing.
While you’re at it, take a look at your beneficiary designations for retirement plans, life insurance and other financial accounts. These designations typically override what your will or living trust says, so you’ll want to make sure to review and update those regularly.
As you may have read here before, estate planning is not a “one and done” chore. You should have an attorney review your documents every three to five years and after any major life event, including a move to a new state.