People rarely move to save on taxes

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It happens all the time, right? People are always moving to avoid high taxes. Either they are moving out of the country or from one state to another.

Well, not really.

Recently, French actor Gerard Depardieu said he might move to Russia because of its low 13 percent flat tax on personal income.

And golfer Phil Mickelson said he was thinking of moving out of California to avoid a hike in that state’s top income tax rate from 10 percent to 13.3 percent, according to an article in the New York Times.

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Published In: 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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