Florida is one of the top tourist and retirement destinations across the globe. Tens of thousands of people relocate from NJ to FL due to the many benefits that the state has to offer. It boasts a great climate, many tourist attractions, and numerous beautiful beaches. Many people from NJ acquire permanent residence in Florida with the aim of enjoying the wide range of tax benefits that the state provides. Here is what you need to know about moving from NJ to FL.
- Florida doesn’t impose state income tax, estate tax, or death tax
Tax benefits are a big deal to many people, irrespective of their social or economic status. Florida does not collect state individual income tax. Relocating to Florida from NJ can save you thousands of dollars in taxes. The Florida Constitution outlaws the collection of death taxes or estate taxes.
- Affordable cost of living
If you live on a fixed income, it wise to find a place where your money lasts longer. Living in a state that has a reasonable cost of living is also important even if you have managed to save enough for early retirement. The lower cost of living in FL allows you to save some extra money for leisure activities or engaging in philanthropic initiatives.
Staying active and engaging in a wide array of recreational activities can help you live a healthy and happy life. In Florida, you can engage in boating, fishing, biking, water sports, golfing, and pickleball. The state has more than 1,300 golf courses. For instance, you can enroll as a member of The Preserve at Ironhorse and participate in a wide array of sporting and entertaining activities. The West Palm Beach, Florida based private country club sits in the center of the lovely Grassy Water Preserve. The main goal of this family-friendly club is to offer its members unparalleled country club experience. The club offers a state-of-the-art golf course, high-quality tennis facilities, and an outstanding swimming pool. Visit their site to learn more about their exceptional services. https://preserveatironhorse.com/
- Easy and reliable travel by air
Florida is home to many domestic and international airports. The many direct flights to a wide array of U.S. locations allow you to visit your relatives and close friends back home or they can also visit you. You can leverage accessible international flights to satisfy your global wanderlust. International airports are available in Tampa, Orlando, West Palm Beach, Melbourne, Jacksonville, Miami, Key West, St. Petersburg, and Fort Myers.
Establishing permanent Florida residence
One of the most popular costs of earning a permanent residence in Florida comes from reassigning title from NJ to FL. The FL law requires permanent residents to acquire a Florida driver’s license, title, or registration for all automobiles and boats transferred to Florida. You should also sign new estate planning documents, which were implemented in NJ, including wills, health care directives, and powers of attorney.
Seek assistance from a qualified attorney in Florida when signing these documents to ensure you comply with both FL and NL laws. Your ability to capitalize on the many Florida residence benefits depends on your ability to satisfy Florida’s comprehensive procedural requirements and adhere to NJ’s laws.