Factors in establishing a new domicile.
* Sell residence in old state and buy or lease a home or apartment new state.
* Apply for and obtain a homestead exemption in the new state.
* Move physical assets from the old state to the new one.
* Server business relationship in old state.
* Close bank and brokerage accounts in the old state and open accounts in the new one.
* Rent a safe deposit box in the new state.
* Have an attorney in the new state review estate plan and draft a new will indicating the individual is a resident of that state.
* File an affidavit of domicile in the new state with the county clerk's office.
* Register and vote in the new state.
* File federal and state income tax returns as a resident of the new state, using new address.
* File state tangible and intangible tax returns, as required, in the new state.
* Register automobiles in new state and get new license plates; cancel old plates. Obtain a license to drive in the new state and cancel old license.
* Change the billing address on credit cards, pensions, Social Security payments and other business correspondence to reflect move to new state.
* Terminate any church or temple affiliations and reestablish them in the new state.
* Terminate any club membership in old state and join clubs and civic organizations in the new state, as desired.
* Join the local public library.
* Purchase a cemetery plot in the new state.
STANLEY HAGENDORF,LLM, is an attorney with offices in New York City and St. Petersburg, Florida. WAYNE A. HAGENDORF, CPA, JD, is an attorney with offices in Los Angeles and New York City.
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|Author:||Hagendorf, Wayne A.|
|Publication:||Journal of Accountancy|
|Date:||Dec 1, 1995|
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