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Hurricanes Can Affect Estate Plan

| Oct 16, 2017 | Uncategorized |

Storms can force temporary relocation to another state, as well as another look at your plan.

Once again multiple hurricanes have hit the U.S. They have caused the displacement of people as they await the rebuilding of their homes. The state laws where you are temporarily relocated could consider you domiciled in that state for estate law purposes, according to the Wills, Trusts & Estates Prof Blog discusses in “Hurricanes, Displacement and the Effect on Domicile.”

Unfortunately, there is not a standard uniform rule to determine where a person is domiciled for estate planning purposes.

It depends on the laws of each state.

It might be prudent to check with an estate planning attorney in the state of temporary relocation and then revisit the estate plans again with attorneys in their home states.

It is also important that the estate plan reflects any changes in assets caused by the hurricane.