Legal Question in Wills and Trusts in Michigan
My wife and I had a living trust established in 1995. We moved to Florida and had the trust updated in December of 2005.
We have moved back to Michigan which is now our legal residence. Do we have to make changes to our trust to reflect our change in home State?
1 Answer from Attorneys
Welcome back to Michigan! Unless there is something unusual in the Florida trust it should probably be just as effective here as in Florida - even if you have not updated it to reflect your change of legal residence. However, other parts of your estate plan may not work as well. Wills and powers of attorney are more state specific. It is probably best to have your 2005 documents reviewed to make sure they will still meet your current needs, verify trust funding, and update your wills, and medical and financial powers of attorney. Additionally, Michigan has a new trust code that is effective April 1, 2010 so it is a good idea to have your trust reviewed anyway. An experienced estate planning attorney will help make sure you have peace of mind.