Even though a person may own many homes, their primary abode is still considered their “domicile.” A person’s domicile is their fixed, permanent address. Why does where you live matter so much? Your domicile has an effect on your inheritance planning, taxes, citizenship, and voting rights. You can benefit from Florida’s extensive Medicaid planning options and its exemptions from income, estate, and inheritance taxes if you establish Florida as your permanent home.

Consult your domicile planning lawyer in Deerfield Beach if you are considering moving to Florida or already living there. The committed staff at the Millman Law Group, led by Aaron Millman, Esq., CPA, is here to assist you throughout the process and enjoy the advantages of a Florida domicile. 

How Are Domiciles and Residences Different? 

Residency is the phrase used to describe your actual physical presence in the state of Florida, while domicile is the legal designation of your permanent residence there. Being a long-term resident of Florida through the rental or ownership of real estate is one common way to verify residency. “Snowbirds” are residents of Florida based on these criteria. 

However, those same people are recognized as lawful inhabitants of another state. This implies that they pay taxes in that state and that when they pass away, the laws of that state will control their estate. If you declare Florida as your domicile, you will pay Florida taxes, and Florida law will govern the distribution of your assets after death. If it aligns with your estate planning objectives, you may establish residence before declaring domicile in Florida. 

How to Establish Florida Domicile 

Consult your domicile planning lawyer in Deerfield Beach as soon as possible. At The Millman Law Group, we will guide you through the process and ensure no critical steps are missed. Declaring your domicile in Florida requires two stages. 

The Bright Line Test

To be eligible for a domicile, you must reside in Florida for 183 days or in no other state for more than 183 days. Your attorney can discuss with you ways you may demonstrate that you have spent the required length of time living in the state. 

The Subjective Test

Next, there are several ways you may establish your Florida domicile. The comprehensive checklist found on the Millman Law Group website covers the following options:

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

The Benefits of Establishing Your Domicile in Deerfield Beach, FL

What advantages may one expect from working with a domicile planning lawyer in Deerfield Beach? Choosing to create a Florida domicile can have a significant influence on your estate planning. Florida has no income tax, inheritance tax, estate tax, Social Security tax, or retirement income tax. There are also further potential exemptions from property taxes.

Another aspect of Florida law that enables you to safeguard your investments from creditors is its robust asset protection laws. Ladybird deeds provide more flexibility and are an alternative to standard life estate deeds in Florida.

Enjoy the benefits of estate planning in Florida by establishing your domicile in Deerfield Beach with The Millman Law Group. 

Contact The Millman Law Group and Your Domicile Planning Lawyer in Deerfield Beach

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.