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Snowbirds
Snowbirds are typically retirees who split their living arrangements into two States, so as to avoid the cold weather during the winter months.
Do I Need Estate Planning Documents in Both States?
It is good practice to consult with an Estate Planning attorney who is familiar with the laws of both states that you own property in, or has contacts with an experienced Estate Planning attorney in each State. The attorney will then be able to evaluate your situation and determine whether you need separate documents that are State specific or whether a single document that conforms to the laws of each state is satisfactory.
Where Should My Residence Be?
Many of these snowbirds designate where their legal residence is based on what will yield them the most favorable tax outcome. In addition to tax considerations, one should consider where they ultimately plan to obtain long term care. Each State varies when it comes to government programs that provide coverage for long term care.
Be Informed
At Russo Law Group, P.C. we have experienced and knowledgeable attorneys who are licensed in multiple states, including Flordia. In addition, we have the resources to assist you in the information you need to obtain to determine what is right for you.
