Trusts lawyers in Savannah have the important job of helping their clients create a legacy that is compliant with a number of different laws. For the most part, these laws will vary from state to state. Some differences are minor, while others can impact the trust significantly. Someone who already has established a trust in one state may very well want to at least review it with a trusts lawyer when relocating to another.
For example, if you have created a trust in Georgia but then move to Florida for retirement, it’s a good idea to meet with a trusts lawyer in your new city. Likewise, someone moving from somewhere else in the U.S. to Savannah should contact a Georgia trust lawyer to review the documents and potentially amend them to meet the law here.
Most often, when a trust is administered, it is done so under the laws of the state where the person resides. This can get a little tricky if you have residences in two states—say, if you’re a “snowbird.” In those situations, it’s best to work with trusts lawyers in both states. The changes needed may be as small as a little wording, but they could also be more complicated.
There are some estate planning documents that should always be addressed with a trusts lawyer when moving to a new state. Powers of attorney are vital for determining who can represent you should you become incapacitated, and those are administered under state law. Powers of attorney drawn up by a trusts lawyer in Savannah may be disregarded by the courts in another area.
A final consideration in the discussion of where to establish a trust is the tax implications. By working with a good trusts lawyer, you can uncover which state may hold the best benefits for you, your estate, and your heirs. It is possible to have trusts set up in more than one state, though the complexities of doing so are absolutely something that should be done with the guidance of a knowledgeable professional with plenty of experience in trusts administration.