Vero Beach and the Treasure Coast · Vero Beach, FL
Planning for the Move South, and for Life Once You're There
Many people who plan for retirement in Vero Beach are moving from the Northeast, or split their year between Florida and another state. Radius works with clients across New England and Florida, and Dr. Richard Huot meets with Vero Beach clients by appointment.
Moving or spending part of the year in Florida raises planning questions that go beyond investing: where you are legally a resident, how property taxes work and how your estate plan travels with you.
Local Planning Considerations
What Often Matters in Vero Beach
-
01
Establishing Florida residency
Florida has no state personal income tax. States you are leaving may look closely at where you actually live, so records of where you spend your time and the steps you take to change your domicile matter. Work with your tax professional on this.
-
02
The homestead assessment cap
Florida's Save Our Homes cap limits annual increases in a homestead's assessed value to 3% or the change in the consumer price index, whichever is lower. A newly purchased home is first assessed at market value, so plan for the property tax on the home you buy, not the one your neighbor owns.
-
03
No Florida estate tax, but documents still matter
Florida does not impose a state estate tax, but federal rules still apply, and wills, trusts and powers of attorney need to work in Florida. If you keep property in another state, that state's rules can still apply.
-
04
Storms, insurance and cash flow
Homeowners and flood insurance costs and deductibles are real parts of a Florida budget. We include them when we model your income and expenses, so the plan has room for them.
Free Checklist
The Retirement Checklist for Vero Beach Families
Fifty questions across income, Social Security, taxes, Medicare, insurance and legacy, to show what is settled and what still needs attention.
Common Questions
Questions Vero Beach Residents Ask
Our office is in Boston's Seaport District. Dr. Richard Huot meets with clients in Vero Beach by appointment. Call 1-617-765-2200 to arrange a time.
It depends on whether you change your domicile and whether you have income from Massachusetts sources, such as property or a business. Because states can examine residency, work with your tax professional on the details.
Yes. Our team includes a former practice owner, and we work with healthcare professionals on practice and retirement planning.
Related
Services and Nearby Areas
- Investment management
- Financial planning
- Estate planning coordination
- Planning for healthcare professionals
- Free Retirement Checklist (PDF)
Nearby: Indian River Shores, FL · Sebastian, FL · · All areas we serve
Prefer to Talk It Through?
Request a Complimentary Consultation
A conversation about your goals and how we may be able to help, with no obligation.
Vero Beach, FL is one of the communities we serve. This page is general information, not individualized investment, tax or legal advice, and is not an offer to buy or sell any security. Radius Wealth Management LLC provides individualized advice to residents of a state only where permitted. Tax and estate rules change; please confirm current rules with your tax and legal advisors. Our office is at 1 Marina Park Drive #1410, Boston, MA 02210. Meetings in the Vero Beach area are by appointment.