Establishing Residency Checklist


“Six months and a day” is a common refrain among retirees looking to benefit from residing in states with no (or relatively low) income tax, such as Florida. The adage belies the true complexity many wealthy individuals and families encounter in establishing a new domicile. The steps required to establish domicile vary from one state to the next. Regardless of your specific plan or circumstances, listed below are suggestions to help establish domicile in your new state of residence:

  • Purchase or rent a home
  • Maintain a calendar documenting that you are spending more time at your new domicile than your former one
  • Open bank accounts
  • Update the address on your credit cards and utility bills to the new address
  • Obtain a driver’s license and update the address on your passport
  • Register a vehicle
  • Register to vote
  • Execute estate planning documents. Estate planning documents are drafted according to a specific state’s trust & probate statutes
  • Consult with professional advisors and physicians located in the new domicile
  • Affiliate with organizations in the state where you wish to establish domicile
  • File your federal return with your new address
  • File a non-resident state income tax return for income earned in the former state prior to relocation
  • Contemplate re-allocating funds of closely-held business interests in your former state of residence

For more information and next steps reach out to your Financial Advisor.

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