Originally posted October 2019 on forbes.com
Changing your domicile, the place you intend to permanently live, has been an important part of the tax,
estate and legal planning forever. Avoiding state income taxes by moving your domicile to a low tax
state from your old home state which is a high tax state, has been the classic motivator for changing
domicile. But there are many other reasons. You might wish to retire to a lower cost location to meet your
financial goals for later years. You might wish to take advantages of more favorable laws in a new state
that are better for you then your old home state. Perhaps the old home state you live in has an estate tax
with an exemption amount lower than the federal exemption and you’d like to avoid the estate tax by
moving to a new state that has no estate tax. Health issues alone might motivate or even necessitate a
move.
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