Florida Domicile Advantages
No State Income Tax
Favorable Asset Protection Laws
No State Estate or Gift Tax
Cap on Real Estate Tax Increases
Residence vs Domicile
Though Florida may recognize you as a resident, there still exists a possibility of being recognized resident of another state, usually tax related.
For example, you may have "moved" to Florida, started reporting significant earned income, or taken withdrawals from an IRA or pension. Your prior State may still attempt to classify you as a resident of that State for the purpose of their income or inheritance/estate tax.
Whether you are a resident of Florida, or another State is determined by analyzing several facts and circumstances surrounding your relationship to said State. Many people may not realize the magnitude of advantages, and corresponding disadvantages of poor planning. As a result, it is imperative to properly plan for domicile.
Find Out if Florida Domicile can Benefit You?
For times and dates of our upcoming Florida Domicile Seminars in Naples, Florida
please call our office at 239-919-8901
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