29
Jun
2006

Moving to Another State? Be Scrupulous in Counting the Days Spent in the Old One

Estate Planning and Tax Advisor & Alert

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PUBLISHED ON: June 29, 2006

Growing numbers of people are buying or renting homes or apartments in areas other than where they have been lifelong residents, whether to enjoy the warm climate and favorable tax structures of states such as Florida or Arizona, or to be closer to their adult children in other states. Although they no longer consider their “old state” to be where they live, many of these people still continue to own or rent places of abode in that other state. Many of us know people who have moved to Florida, but continue to maintain a home in another state, as a respite from the summer heat of Florida, or as a place to stay when they “visit the kids.”

The discussion which follows, although it uses New York as an example, also applies to states such as Connecticut, Delaware, New Jersey and Pennsylvania, which have nearly identical rules.


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