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Book an Initial Call NowTier One- the basic estate planning documents for New York and Florida
Tier Two- Avoiding probate and ancillary probate
Tier Three- Domicile, or what state considers you to be a resident for tax purposes.
Tier Two snowbird planning is for snowbirds who purchase a home in Florida and continue to own a home in New York. Since these snowbirds own real estate in two different states, without proper planning, their estates could need to be probated in both New York and Florida. The primary probate will be done in the state where you were a resident when you died, and a second, ancillary probate, will be done in the other state where you owned real estate.
Ancillary probate and probate in general can be easily avoided with a proper estate plan.
Tier Three snowbird estate planning is for snowbirds who want to change their state residency from New York to Florida. Typically, people want to do this to avoid New York State’s high taxes imposed on residents, whether that be income or estate taxes. The key term here is “domicile”. You can have multiple residences, but you can only have one domicile. Your domicile is the state where you are a resident. This is the state you call “home”. Florida is happy to accept New Yorkers who want to be domiciled there. New York is not as happy to let go of New Yorkers who no longer want to be domiciled in New York.
New York State is very aggressive in auditing people who change their domicile from New York to Florida (or other snowbird friendly states). New York residency audits are very fact intensive. When attempting to establish that a person is domiciled in New York, the tax auditor will look to five factors:
Even if you can prove that you are not domiciled in New York, New York State can still try to tax you as a “statutory resident”. A statutory resident is someone who maintains a permanent place of abode (meaning any place to live, whether they own that place or not) and spends in the aggregate (meaning a total of) more than 183 days of the year in New York State. Statutory residents are taxed as full time New York State residents.
There are major tax implications when maintaining residences in multiple states, so snowbirds must plan carefully to avoid residency audits and other obstacles.
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Riverhead Office
33 West Second Street
Riverhead, NY 11901
Hauppauge Office
490 Wheeler Rd., Suite 150
Hauppauge, NY 11788
Southampton Office
200 North Sea Rd., Suite A
Southampton, NY 11968
Southold Office
56340 Main Rd
Southold, NY 11937
East Hampton Office
20 Main St
East Hampton, NY 11937
20 Main St,
East Hampton, New York 11937
56340 Main Rd,
Southold, New York 11937
200 North Sea Rd., Suite A
Southampton, New York 11968
490 Wheeler Rd., Suite 150
Hauppauge, New York 11788
33 West Second Street,
Riverhead, New York 11901