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Maine/Florida Residency Multi-jurisdictional estate, probate, and tax issues

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.

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Maine/Florida Residency Multi-jurisdictional estate, probate, and tax issues

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  1. Maine/Florida ResidencyMulti-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

  2. Introduction • Maine/Florida residents face special legal issues

  3. Domicile Issues • Definition of Domicile • Changing Domicile • Problem areas • Inadequate documentation • Failure to relinquish homestead • Spending too much time in Maine

  4. 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

  5. Will Issues • Self-proving requirements • Disqualification of certain people as personal representative • Dispositions that violate Florida homestead law

  6. Trust Issues • Inadequately funded Trusts • Disposition violates Florida homestead law

  7. Health Care Directives • Generally honored by different states

  8. Three Meanings of Florida Homestead • Real property taxation • Transfer on death restrictions • Protection from Creditors

  9. Questions?

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