Moving to a new state is exciting, but it also comes with a checklist of legal and financial updates including your estate plan. If you’re relocating to Maryland, it’s crucial to ensure your will, trust, powers of attorney, and other documents comply with state laws. Here’s what you need to know to update your estate plan after your move.

1. Review Your Will and Trust

Each state has unique laws governing wills and trusts. While Maryland generally recognizes out of state wills, certain provisions such as executor requirements or witness signatures may not align with Maryland law. A local estate planning attorney can help you determine whether your current will needs revisions or if creating a Maryland compliant trust is a better option.

2. Update Your Powers of Attorney and Healthcare Directives

Maryland has specific rules for financial powers of attorney and advance healthcare directives. If your existing documents were drafted in another state, they may not be as effective under Maryland law. Updating these documents ensures that your chosen agents can act on your behalf without legal complications.

3. Review Your Beneficiary Designations

Your estate plan includes more than just a will. Review and update the beneficiaries on your:

• Life insurance policies
• Retirement accounts (401(k), IRA)
• Payable on death (POD) and transfer on death (TOD) accounts

Maryland laws may impact how these assets are distributed, especially regarding spousal rights and inheritance taxes.

4. Consider Maryland’s Estate and Inheritance Taxes

Unlike many states, Maryland imposes both an estate tax and an inheritance tax. The estate tax applies to estates exceeding a certain threshold, while the inheritance tax affects non immediate family members receiving assets. Proper planning such as gifting strategies or trusts can help minimize these tax burdens.

5. Update Property Titles and Deeds

If you’ve purchased a home in Maryland, check how your property is titled. Maryland allows for tenants by the entirety (for married couples), which provides asset protection benefits. Ensuring your deed reflects your preferred form of ownership can prevent legal headaches in the future.

6. Work with a Maryland Estate Planning Attorney

Every state has its own nuances when it comes to estate planning. A Maryland based estate attorney can help you navigate these changes and ensure your documents are up to date and legally sound.

By taking these steps, you can protect your assets, provide for your loved ones, and enjoy peace of mind in your new home state.

For personalized assistance contact Antonoplos & Associates today or click the button below.