K asks:
How do I create an estate plan when we could be moving to different states over our lifetime? We spent a bunch to make an estate plan in Massachusetts, then moved to Connecticut, not realizing we would basically have to pay to redo it to be effective here. It’s so expensive to redo every time we move, there must be a way around this!
It is true that different states have all different sorts of laws and regulations when it comes to death and taxes. Chances are, there are a few updates you will want to make.
But if you move to a new state and know you will move again in the near future, you don’t necessarily have to run out and update your estate plan the day you unpack your U-Haul, says Kate Phelan, regional director of wealth planning and trust advisory at US Bank.
