Where you live and work matters for estate planning! Where your personal representatives, trustees, and beneficiaries live and work also matters! Each state has its own laws regarding how residents and nonresidents are defined, and taxed. Some states use the 183 day rule, where others examine the intent of the individual. A few states look to “where the heart” of the individual is. Be sure to understand the residency requirements for all states in which you own real estate, register vehicles, visit 6 months each year, or do business. This is not an all inclusive list. Be sure to speak with your attorney regarding residency requirements.
– Emily A. Helmick, Esq.