In an article published in South Florida Business & Wealth, John Raymond and Mark Raymond discuss establishing residency in Florida while avoiding the “long arm” of New York tax authorities.

With an increasing number of individuals relocating from Northeastern states and heavily populated cities to taxpayer-friendly Florida, tax authorities are now intently focused on high-net-worth transplants. Too often there is limited understanding of the many steps that need to be taken to ensure that no “essence” of one’s life remains in the former place of residence. For example, if one does not update their will after moving to Florida, they could face expensive probate proceedings and a high estate tax upon death.

“Everyone assumes, ‘Hey, I let the U.S. Postal Service know, now I live in Florida’,” says Mark Raymond. “But it’s not as simple as changing your address.”

“New York takes the position that you never really left New York,” adds John Raymond. “It is in your essence, and you must prove that you left.”

The article discusses residency audits, which could ultimately cost millions in taxes. Auditors will focus on minutiae, such as where one shops and the exact number of days one spends in each state.

“If your body touches any part of the state of New York, that’s considered a day in New York,” cautions John Raymond. “If you change planes on the way to Europe, that’s a day in New York.”

Probate attorneys like the Raymonds can guide individuals through a comprehensive checklist to ensure a smooth relocation.