Monday, August 25, 2014

My legal address is Florida, but I am in California at least half of the year due to work, but not with a regular address in California. I s...

Question

My legal address is Florida, but I am in California at least half of the year due to work, but not with a regular address in California. I stay in hotels or couch surf. I want to make up my will and I do not know which is appropriate a Florida Will or a California Will. Does it really matter? Thank you.



Answer

A Florida resident should have a will which is valid under FL law, indicating place of residence and that FL law will be applied. Such will is legal under California law.



Answer

It does matter. You Will needs to be from where you are a resident, and therefore subject to that State's tax laws. There is a huge difference on taxes between Florida and California.



Answer

There are multiple reasons you should select one state over the other, not the least of which is to leave your estate and assets to those you desire in an organized fashion. The state you select and put down as your permanent residence will effect the following: elective share to a spouse or future spouse; qualification variance for Medicaid and other governmental benefits; creditors rights where you could either protect your assets from same or be subject to losing them; certain constitutional benefits to spouse, as well as marital laws that differ; property obligations under California's Community property laws including divorce; income, inheritance and realty tax differences; not to mention jurisdicition of the courts and as to contracts entered into! Hope this helps make up your mind, but the differences should be disscussed with qualified legal counsel.



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