Legal Question in Wills and Trusts in Colorado
Living in diifferent state from original trust preparation.
My wife & I had a revocable living trust prepared while we were living in
Arkansas by an attorney in Arkansas. We now live in Colorado. Does our
trust require revision? If so, how extensive is it and what is he approximate
cost for the change?
2 Answers from Attorneys
Re: Living in diifferent state from original trust preparation.
Your trust may not need any revisions; or it may need to be revised extensively. You should have an attorney in Colorado review the documents with you. That attorney could then give you an idea of what, if anything, needs to be done.
Re: Living in diifferent state from original trust preparation.
The fact that your revocable trust is from another state, would not, by itself, mean that revisions are necessary. However, your documents should be reviewed.
This is especially true of the Pour Over Will, Financial Power of Attorney and Health Care Power of Attorney. The Powers of Attorney, if done before HIPAA will need to be replaced.
Finally, you will want to make sure that you have HIPAA authorizations for the trustees of your trust, if they are different from the agents in your Powers of Attorney. At least, you will want to discuss these issues with your Colorado estate planning attorney.
If you do not have the documents referred to above, your plan is deficient and requires immediate attention.