A person may own many properties, but their “domicile” is considered their primary residence. A domicile is where a person has a fixed and permanent home. Why is having a domicile so important? Your domicile influences your citizenship, voting rights, taxes, and estate planning. When you establish your domicile in Florida, you may benefit from the state’s exemptions from state income, estate, and inheritance taxes and its extensive Medicaid planning options. If you are a new resident or want to migrate to Florida, contact your domicile planning lawyer in Broward County. The Millman Law Group, founded by Aaron Millman, Esq., CPA, is here to help you navigate the process and reap the benefits of a Florida domicile. 

How Are Your Domicile and Residence Different? 

Residency refers to your physical presence in the state, whereas domicile indicates your permanent residence in Florida. Renting or owning property in Florida and spending substantial time there are common ways to verify Florida residency. This is often how “snowbirds” get residence.

However, such persons are still regarded as official residents of their home states, meaning they pay taxes there, and even if they die in Florida, their estates will be handled under their home state’s rules. If you officially establish a domicile in Florida, you will be subject to Florida taxes, and your estate will be distributed in accordance with Florida law when you die. Depending on your estate planning objectives, you may establish residence before declaring domicile in Florida. 

How to Establish a Domicile in Florida 

The initial step in the domicile process is to consult with a domicile planning lawyer in Broward County, FL. At The Millman Law Group, we can ensure that no critical processes are ignored and that all materials are delivered correctly. Establishing a domicile in Florida involves two stages. 

Stage One: The Bright Line Test

This requires you to physically reside in Florida for at least 183 days every year or spend no more than 183 days in another state. Your lawyer can advise you on properly demonstrating your residency in the state for the requisite duration. 

Stage Two: The Subjective Test

The second phase, the Subjective Test, begins next. There are several ways to establish your domicile in Florida. The Millman Law Group website has a comprehensive checklist that covers the following:

• Register vehicles in Florida
• Register to vote in Florida
• Submit a Declaration of Domicile in your county
• Change your estate planning documents to Florida and list your Florida residence 
• Update insurance policies with your Florida address 
• Update deeds to include Florida as your residence 

 Why Should You Establish Your Domicile in Broward County? 

What are the advantages of working with a domicile planning attorney in Broward County? Establishing a Florida domicile may have a significant impact on your estate planning. Florida imposes no state income, inheritance, or estate taxes, nor does it tax retirement income or Social Security payments. There are also certain exemptions for property taxes. 

Florida also has strong asset protection laws, allowing you to secure your investments from creditors. Florida is also one of the states that offer Lady Bird deeds, which are more flexible than traditional life estate deeds.

Establishing Florida as your primary residence and domicile is a necessary step in optimizing your estate planning benefits in the Sunshine State. 

Contact The Millman Law Group and Your Domicile Planning Lawyer in Broward County

Millman Law Group, PLLC is one of the only law firms that offers life planning in South Florida. From life care planning to the preparation of detailed estate plans, Millman Law Group has committed to serving Floridian elderly communities in Boca Raton, Palm Beach County, Ocean Ridge, Hillsboro Beach, and many other areas since 2018. Our dedicated team specializes in special needs trusts and catering to any age demographic because we know that it’s never too early to start preparing for your future. For the latest news in estate planning and elder care law, follow us on Facebook, Twitter, LinkedIn, and Pinterest. You can also contact us at 561-463-6480.