By SJS Investment Services Senior Advisor Andrew Schaetzke, CFP®.
Especially since the start of the pandemic, many people have moved in order to live in a less expensive place, to have more space, or to have different pace of life.[1] Moving can be exciting, as it may allow you to experience something new. At the same time, there a lot of logistical details to account for when you move. Particularly if you move out of state, it can be easy to forget or not even know that you have to do something important.
To help you figure out what issues to consider if you move out of state, we provide the below resource. From this, you may come away with answers and action items for the following:
Do I need to distinguish between residency and domicile?
What agencies do I communicate with in order to update records?
Do I need to update my family’s estate planning documents?
Are there potential tax advantages or additional expenses (such as for Medicare) that I should be aware of?
If I move because of a job, are my moving expenses tax-deductible?
As always, we are here to help you evaluate your personal situation and help you figure out what you need to do when moving out of state. Please feel free to reach out to us if you have any questions.
Important Disclosure Information & Sources:
[1] “Americans Up and Moved During the Pandemic. Here’s Where They Went.“ Yan Wu & Luis Melgar, 11-May-2021, wsj.com.
There is no guarantee investment strategies will be successful. Past performance is no guarantee of future results. Diversification neither assures a profit nor guarantees against a loss in a declining market.
Advisory services are provided by SJS Investment Services, a registered investment advisor with the SEC. Registration does not imply a certain level of skill or training. SJS Investment Services does not provide legal or tax advice. Please consult your legal professional or tax professional for specific advice. This material has been prepared for informational purposes only.
Hyperlinks to third-party information are provided as a convenience and we disclaim any responsibility for information, services or products found on websites or other information linked hereto.
Suggested Reading
One of The Ability Center’s services is the Assistance Dog training program, which helps individuals with disabilities achieve greater independence.
When working with investment managers, we want them to share that same client-first philosophy and sit on the same side of the table with us.
We want to emphasize some best practices that can help us work together to ensure your information and assets remain safe.
The Outlook includes our evolving MarketPlus® Investing philosophy by standing on the shoulders of giants, and ways to help protect your personal information and financial assets. We also highlight The Ability Center and look forward to Q2 2024.
SRDAX is a shining example of the value alternatives can bring to traditional stock and bond strategies.
As we begin the new year, we have some ideas for concrete actions to start your new year on the right foot, financially.
Isn’t this picture magical? It's Main Street in Sylvania, Ohio, the small town where I founded SJS over 28 years ago!
The SJS Q4 2023 Outlook includes our insights on small town values, MarketPlus® Investing, and planning financially for the new year. We also highlight new SJS Team members and look forward to Q1 2024.
To help you financially plan for 2024, we provide this resource with important numbers for the upcoming year.
SJS Investment Services has been recognized in the Forbes / SHOOK 2023 list of America’s Top RIA (Registered Investor Advisor) Firms.
In addition to family gifting, many individuals support giving to organizations that aim to help their communities. We highlight some strategies to make the most of your giving dollars.
You can consider putting excess cash into a money market fund, short-term U.S. Treasury bonds, or a short-term bond mutual fund / ETF.
The future of the housing market is uncertain, and its resilience will be a crucial factor in the broader economic landscape.
The SJS Q3 2023 Outlook includes our insights on gifting and charitable contributions as well as U.S. real estate. We also look forward to Q4 2023.
SJS Investment Services has been recognized in CNBC’s 2023 FA 100 list, an annual ranking of registered investment advisory (RIA) firms within the United States.
International Samaritan is a 501(c)(3) nonprofit organization that is working to break the chains of poverty and improving lives, particularly within garbage dump communities worldwide.
SJS has been recognized in Financial Advisor Magazine’s 2023 Registered Investment Advisor (RIA) Ranking, an annual ranking of independent investment advisory firms within the United States.
The SJS Mission is to empower you to build a better life. That extends to our teammates, clients, and community members.
The SJS Q2 2023 Outlook includes our insights on building up our local communities as well as market performance so far in 2023. We also share even more members of the SJS family and look forward to Q3 2023.
It’s important to recognize how difficult it is to predict what will happen in the short-term for investment markets, and how much margin for error there should be for any prediction.
Leadership Toledo is an organization that connects individuals with the community, engaging and involving them with initiatives that make the Toledo region a great place to live, work, and enjoy.
The SJS Annual Report provides updates on the SJS Team, MarketPlus Investing®, SJS purpose, mission, & values, multi-family office services, and SJS community involvement.
The SJS Q1 2023 Outlook includes our insights on planning for your legacy, tomorrow’s headlines today, how the SECURE 2.0 Act may impact your finances, and looking forward to Q2 2023.
If you are lying awake asking yourself in the quiet of the night, “What should we do with our wealth when we die?”, please read on because in this article you will find potential answers, next steps, and resources.
The market’s reaction to tech in the first quarter is another reminder of how hard it is to time and predict the market, even if you “know” what is going to happen.
In efforts to further improve retirement plan saving and investing, the SECURE 2.0 Act was signed into law in December 2022. We want to highlight how this act may impact your finances.
The SJS word of the year for 2023 is GRATITUDE! Gratitude for our health, families, friends, faith, country, the SJS Team, and most importantly You, our loyal client who trusts us to do what’s in your best interest day-in and day-out.
The mission of Courageous Community Services is to provide meaningful, inclusive opportunities for individuals with disabilities and their families through advocacy, education, and engaging recreational experiences.
The SJS Q4 2022 Outlook includes our insights on the U.S. bond market over the past year, steps to help you plan financially for the new year, a thank you to Bev Langley, and looking forward to Q1 2023.