Real Estate with Fred (VIDEO)

Fred: We can also handle all aspects of real estate transactions for our clients, including transfers to beneficiaries, and in those cases where clients are purchasing homes in Florida, we can represent them in connection with the purchase, including reviewing the agreements of sales, searching the titles and obtaining title insurance on behalf of our clients, so that they can be assured that they own clear, free and marketable title to any properties down here that they are purchasing.
One of the questions that we’re frequently asked is whether a client should become a resident of the state of Florida. We have many clients who own homes in Florida but also still own homes up north, and the issues is, should they remain a resident of their state or establish residency in Flordia. In our view, their really is no downside to establishing residency in the state of Florida. There is no personal income tax and no inheritance tax. Many states up north still do have an inheritance tax that ranges  from 4% to 15% of the value of the assets that are being passed to children, grandchildren and other beneficiaries. In Florida we have no such tax. If you have a home here and spend at least the majority of your time here, there is no downside to establishing residency in the state of Florida.