Legal Question in Wills and Trusts in Michigan
trusts
I need to set up a trust. I am a resident of Florida, but, spend 4 to 5 months a year in Michigan. What state do I have the trust set up in? Or dosen' it matter? We are retired.
Asked on 4/28/09, 10:31 am
1 Answer from Attorneys
Frank J. Pyle
Probate Attorney Throughout Florida
Re: trusts
From the legal point of view, it probably does not matter. It may make a difference if you are trying to claim Florida as your state of residence to avoid Michigan income and/or inheritance taxes. If it is to hold Florida real estate on which you claim homestead, there is some specific language the property appraiser requires for you to continue to claim the homestead exemption. Otherwise, just find an attorney with whom you feel comfortable.
Answered on 4/28/09, 2:23 pm
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