Establishing Florida Domicile
WHAT ARE THE ADVANTAGES?
Establishing domicile in Florida can be financially advantageous. Overall its residents have a low tax burden. Homestead exemptions also can reduce property taxes. The state also has unique estate planning options that benefit heirs and owners.
MUST DEMONSTRATE INTENT
To establish domicile, potential residents must demonstrate intent. They can do so in several ways. These include establishing a home in Florida and spending most of the year in the state. They also include having Florida driver’s licenses and car registrations, registering to vote, and declaring domicile before a clerk. Developing estate planning documents, finding a financial planner, and opening investment accounts in Florida also help demonstrate intent.