Transcript Maine/Florida Residency— Still Compelling? Multi

Maine/Florida Residency
Multi-jurisdictional estate,
probate, and tax issues
William A. Lee III, Esq.
O’Donnell, Lee, McCowan & Phillips, LLC
112 Silver St.
Waterville, ME
207-872-0112
Introduction
• Maine/Florida residents face
special legal issues
Domicile Issues
• Definition of Domicile
• Changing Domicile
• Problem areas
• Inadequate documentation
• Failure to relinquish
homestead
• Spending too much time in
Maine
Powers of Attorney Issues
• Maine Power of Attorney generally
not effective to convey Florida
homestead real property
• Florida requires both listing and
initialing for certain powers
• Requirements for investment and
banking transactions
Will Issues
• Self-proving requirements
• Disqualification of certain people as
personal representative
• Dispositions that violate Florida
homestead law
Trust Issues
• Inadequately funded Trusts
• Disposition violates Florida
homestead law
Health Care Directives
• Generally honored by
different states
Three Meanings of
Florida Homestead
• Real property taxation
• Transfer on death restrictions
• Protection from Creditors
Questions?