For many retirees, dividing time between two beloved locations is the dream. Known as "snowbirds," these individuals enjoy northern US states in the summer before flocking to warmer climes come winter. For residents of Michigan, snowbird time is usually spent in Florida, South Carolina, or Arizona.

While this lifestyle has many advantages, it can significantly impact the distribution of your assets when you pass away. For instance, the laws in the state you spend winter in may differ substantially from those in Michigan and other states where you spend your time. This is where a Troy estate planning lawyer can provide invaluable assistance.

Choosing Your Legal Residence State

When it comes to estate planning, identifying your true legal residence is vital. This decision should be based on factors like the amount of time spent in each state and other significant considerations.

If you have the luxury to choose, an estate planning lawyer can guide you in selecting the state whose laws will be most beneficial for you and your estate. Factors influencing this decision include property laws, marital status, income tax rates, real estate taxes.

Avoiding Multiple Probates

Having properties in multiple states could subject your family to numerous probates upon your passing. For example, if, at the time of your death, you own real estate in both Michigan and Florida, that is titled  soley in your name, your estate may need to be probated in both states.  Probate, the public court process to administer your estate after death, can be costly and time-consuming. Your heirs may have to hire attorneys in both states and spend considerable time away from home to settle your affairs.

Fortunately, by creating trusts and other legal protections, you can save your heirs from the probate process, making property management significantly easier. A Troy, Michigan estate planning lawyer can help you craft a robust estate plan to avoid such complications.

Establishing Powers of Attorney in Both States

When you're residing in two states, it may be necessary to create medical and financial powers of attorney in both states. The reason for this is the laws governing these legal instruments are very state specific, especially regarding medical directives. This can help avoid problems and delays in emergencies.

Getting Help

For those enjoying a dual-state lifestyle, it's crucial to ensure your affairs are in order. This forethought can turn your choice into a blessing for you and your family, rather than a potential hassle should the unthinkable occur.

Our Troy estate planning lawyers can help ensure that the complexities of state laws won't detract from your dream lifestyle while helping you plan ahead to savor the journey. Call us at (248) 469-4261 or use the contact form on this website to establish the right protections to enjoy your properties without stress or worry.