If I move to a new state, do I have to change my Estate Plan?
That question depends on the state you move from. Estate planning law originates
from state law. That means each state has its own set of guidelines for
how estate plans can be set-up and executed. That being said, some states
have similar laws and others are drastically different. Also, most states
have estate taxes for estates that are over a certain dollar amount (which
should be accounted for in the planning) and other states, such as Florida,
do not. Florida property must only be under the federal exemption, which
is approximately $5,340,000 (as of 2014). Very few estates reach that
threshold in Florida, however, since Florida has longer probate times,
you may prefer to plan using as many will substitutes as you can.