What Makes Florida a Popular State for Retirement?
Estate planning is an important area of law across the country, but especially here in Florida, as the state is one of the most common destinations for retirees. So what exactly makes Florida such a popular state for retirement?
The following a few factors:
- Taxes. Florida does not have any estate tax, inheritance tax or state income tax. That’s a huge deal, especially for retirees who are on a fixed income. Retirees are also more likely to be looking to the future with their estate plans, and they appreciate being able to pass on their assets without having to worry about excessive taxes.
- Cost of living. Overall cost of living in Florida is significantly lower than many other places in the country, although of course there are a few locations (such as Miami) where things get a bit pricier.
- Climate. People tend to flock south for the warmer temperatures, the abundance of water and beaches and, perhaps most of all, the lack of harsh, icy winters found in other parts of the United States.
- Recreation. There are plenty of options for golf, fishing, boating, walking, biking and other recreational activities throughout the state to keep people busy.
- Vacation destination. Family members will make it a point to visit retirees who live in Florida with all of its tourist opportunities, theme parks and beaches.
- Health care. There’s a wide variety of health care options and services geared toward the elderly in Florida, so it is easier to get the treatment and care you need without much hassle.
If you are considering a retirement spent in Florida and need a skilled estate planning attorney to guide you, contact the Charles Law Offices today.