A Domicile Story

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We read with interest this week the story regarding Derek Jeter listing his New York condo for sale, not because of the startling price ($20 million), but for the potential domicile considerations and where Jeter is considered to be a resident for income tax purposes. We have fielded many inquiries on this topic over the past few years, and thought this story was a good reminder to people that where you are domiciled, or alternatively, where you are considered to be a statutory resident, can have a major financial impact.

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Published In: Residential Real Estate Updates, Tax Updates, Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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