It can be enticing to retirees to split their time between two states, spending half of the year in their hometown with family and friends and the other half in a warmer retirement focused community in Florida. However, this plan can complicate estate planning and administration when it comes time to determine where the deceased individual lived, and can result in the necessity of probate proceedings in both states. Having a trust for property can help simplify the problems of double probate. It is also important for individuals to know the state estate tax laws for any state they consider moving to or splitting time in for retirement.
See Dee Lee, Protecting Your Estate While Living in Two States, CBS Boston, Oct. 17, 2014.
