Description
Many prospective retirees hope to own two residences during their retirement. Whether because of weather, family, or adventure, they look forward to breaking up each year by living in two or more locations. They want to be “snowbirds”. There are a number of tax and financial considerations that must be addressed in order to make this retirement arrangement work, from equity financing to establishing legal domicile, and from managing household expenses to multi-jurisdiction estate planning. This presentation examines the key financial considerations to address as part of owning multiple residences in retirement.
Learning Objectives
1.Learn what drives retirees to want to live in more than one location – to “snowbird”;
2.Gain an understanding of the financial, legal, budgeting and tax issues that can derail a client’s plans;
3.Discover financial solutions that help finance and maintain the ownership of more than residence;
4.Better understand how to work with retired clients who spend their time in more than one location.