Estate Planning and Domicile Planning Attorneys in Palm Beach County
There is a long history of migration to Florida from other states and even other countries.
Traditionally, this inbound migration has been primarily composed of retirees from northeastern and midwestern states, but that has changed greatly in the past several years. Between April, 2022 and April 2023 alone, Florida State government says there were nearly 360,000 new Florida residents.
Increasingly, Florida’s new residents reflect demographics beyond retirees, including young families, recent college graduates, and both single and married professionals. While all these groups need thorough, Florida-based estate plans, those retiring to Florida may also require additional planning services that specifically address elder law concerns.
Our state can offer lower taxation, a generally lower cost of living and year-round warm weather, making it highly attractive to those and other groups.
If you have permanently relocated to Florida recently, you should consider reviewing your estate planning actions as part of the process referred to as domicile planning.
Among those steps:
* Changing your estate planning documents, including Wills and Trusts, to reflect Florida as your state of residence
* File for a homestead exemption on your owned Florida residence
* Modify your financial accounts at banks and brokerages to reflect your Florida residence
* Register your vehicles and register to vote, as well as change official documents such as your driver’s license
If you do not have an existing documented estate plan, now is the perfect time to create a comprehensive plan that reflects your personal needs, goals and wishes, as well as your new Florida permanent residency.
At Kitroser Lewis & Mighdoll, our dedicated attorneys and staff offer our clients decades of knowledgeable experience in Estate Planning, including Domicile Planning, Will & Trust creation, Elder Law and all other closely related practice areas.
We look forward to working with you soon.
North Palm Beach and Jensen Beach FL Offices