Could you be taxed in multiple states? How domicile affects your estate plan
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Description
Abstract: Where a person makes his or her home (his or her domicile) is primarily a lifestyle choice. But it can also have a financial impact, especially if the person divides his or her time among two or more states. Without careful planning, the person may find him- or herself in an unfortunate situation of having multiple states competing for his or her tax dollars. This article explains the estate tax implications of domicile. (Updated: 11/30/12)
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