How do I determine my state of residence for estate planning purposes

If you do not own property in any state, are employed overseas, and do not intend to reside in NC or Georgia, you may be able to say you are an expatriate and owe only federal income tax of which about the first $82,000 may be tax exempt. You should check with your tax professional for further details as your personal situation may be different.

Areas that are viewed for residency include where you own property, where you may pay income tax, where you vote and where you have a driver's license. If you are going to be overseas, you also have the option of not owning any property in the U.S. and becoming an expatriot. You should check with your tax advisor for the best option.

Best regards,

Randy Fisher