Many people move as part of their careers or move when they retire to more favorable climates and tax environments. It’s almost a cliché how New Yorkers retire to Florida, and how Californians are moving to Nevada. In fact, Florida just surpassed New York’s population and Nevada is now the second fastest-growing state in the country. Often lost in the excitement of a new chapter in life, is the need to update your estate plan. An excellent article by Nevada attorney Scott Halvorsen addresses the issue here. Of course, your estate plan should always be reviewed when buying or selling property, but also for additional critical issues related to your living will/healthcare directives. Estate planning laws vary significantly from state to state, and all aspects of your plan should be reviewed whenever one relocates. Nevada is considered to have the best estate planning and trust laws in the country. For more information, contact Alliance Trust Company in Reno at 775-297-4000.
