Page 7 - Boca ViewPointe - April '25

April 2025 Viewpointe, Page 7
Residency Planning As Part Of Your Estate Plan

By Carolina Rosenthal, looking to change their domicile needs to be prepared minor children looking to change their domicile may
CPA and Principal to acquire a new home that is “nicer” than what they need to make plans to move the entire family or wait until
currently have. children reach majority.
Seventeen states plus When a taxpayer must maintain a house where they Active business involvement presumes a domicile
DC levy death taxes (i.e., are currently domiciled, they should consider downsizing. is near the individual’s primary workplace. Working
estate and/or inheritance Downsizing is an exceptionally strong indicator that a individuals looking to change their domicile should be
taxes). States may taxpayer has changed their domicile because it is a clear prepared to make a bona fide office in the new state.
impose death taxes on an reduction in their connection to the state. Furthermore, In the virtual work age, this does not require leasing
individual’s entire estate if downsizing allows the individual to claim the IRC Sec. a fully-fledged office, but working from the kitchen
their domicile is in the state 121 exemption on the sale of the old house. table is insufficient. At a minimum, working individuals
at the time of death. For States presume an individual’s domicile is where they should consider coworking arrangements and/or creating
example, the NY estate tax spend more time than anywhere else. This is not a matter a dedicated home office in the new home.
will apply to the entire estate of a NY domiciliary who of spending less than 183 days in a state. For example, While no one of these five factors is dispositive, to
passes while on a FL vacation. an individual claiming FL domicile and owning homes successfully change your domicile all five factors should
Individuals domiciled in states levying death taxes in NY and FL spent 160 days in NY, 150 days in FL, and point to the new house becoming your permanent home.
need to change their domicile to save their beneficiaries 55 days traveling. NY would argue this individual is a Individuals considering changing their domicile should
the state’s death tax expense. So, what is a domicile, and NY domiciliary because they spent more time in NY than consult with a professional about their specific facts and
what planning is necessary to change it? A domicile is anywhere else. Furthermore, since the burden of proof for circumstances and the steps they should take.
defined as an individual’s permanent home – the place a change of domicile is on the individual, they need to
they intend to return to when absent. Once established, spend more time in the new state than anywhere else by a Author Carolina Rosenthal is a resident of Boca
a domicile continues indefinitely until affirmatively persuasive margin. Spending 183 days in FL and 182 days Pointe. Email: crosenthal@withum.com. 
changed. Individuals affirmatively change their domicile in NY is unlikely persuasive, while spending 240 days in
by physically moving to a new location with the FL and 125 days in NY probably is persuasive. Individuals
demonstrable, concurrent intent to make the new house should consider using location tracking applications to Current Events
their permanent home. manage the number of days spent in each state and adjust
There is a presumption that an individual’s house is travel plans, as necessary.
their domicile when they only have one house. Someone States presume individuals keep their prized Group
who sells their old home, buys a new home, and moves possessions at their domicile. Prized possessions may
there probably changed their domicile. When an individual not have substantial economic value, but always have
owns multiple houses, states will analyze multiple factors significant sentimental value (e.g., pets, heirlooms, The Current Events Group meet every Monday
to determine their domicile, including: family photos). Individuals changing their domicile from 10am-11:30am at the BPCA office. The
1. Home need to document moving prized possessions – which members consist of both men and women and all
2. Time Spent can be challenging because these possessions often fit Boca Pointe residents are invited to attend. If you
3. Prized Possessions in the backseat. Documenting the movement of prized
4. Family Connections possessions includes updating insurance riders, changing would like more information or to sign up, please
5. Active Business Involvement vets, and taking photographs (with date stamps and call 516-835-2670. 
The home factor presumes that a taxpayer’s “nicest” geolocation data) of prized possessions moving into the
house is their domicile. This is a subjective analysis and new home.
is not entirely based on the houses’ respective values. The family connections factor presumes an individual’s
A $1 million house in Las Vegas can easily be “nicer” permanent home is close to family. While the concept that
than a $2 million co-op in NYC. Since the presumption spouses must share the same domicile is passé, states will

is a taxpayer’s “nicest” house is their permanent home, often presume that an individual’s domicile is in the state
an individual who cannot sell their current home and is where minor children attend school. Individuals with

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