Kimberly-Vincent Luxury Real Estate - May 2020

WHAT DOES IT REALLY TAKE TO GET FLORIDA RESIDENCY? NO, 6 MONTHS AND A DAY ISN’T ENOUGH

Florida’s residency status is one of the most coveted in the nation because Florida residents cash in on all kinds of perks those in other states lack. For example, Florida has no income tax or estate tax, and our real estate taxes are appealingly low. It’s an irresistible trifecta for wealthy business owners and families looking to protect their assets. However, the only way to reap those Sunshine State benefits is by establishing residency — a process far too many new movers mishandle. At workshops and other events, one of our favorite things to do is ask the crowd what constitutes residency in Florida. We’ll ask, “How many people in the room agree that you can get Florida residency if you live here six months and one day?” and watch hand after hand go up

in the audience. Then, we’ll bust the myth. The truth is, there is no time requirement on Florida residency. Here, residency is all about intent. To truly be considered a Florida resident, you need to prove that Florida is not only your home, but your domicile — the place you intend to stay permanently. And that takes real attention to detail. As we’ve seen many billionaires find out the hard way, simply buying a home in Florida doesn’t cut it. You need to demonstrate your intent in any of a dozen small ways: by registering to vote here, or registering your car here, or ensuring your bank accounts, brokerage relationships, and medical directives are updated to Florida law. Gaining official residency can be a tricky process, but we’ve helped hundreds of people through it, beginning with buying the second or third home of their dreams in Naples. Florida law is fluid, so to nail the details we recommend working with an experienced estate planning attorney who specializes in Florida residency. After years in real estate here, we know the best attorneys in the business and can direct you to someone who can handle your estate with kid gloves.

Springtime Cacio e Pepe

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INGREDIENTS

• 6 oz multigrain spaghetti • 8 oz fresh asparagus, cut into 1-inch pieces • 1 tbsp olive oil • 1 tsp lemon zest • 1/2 cup Parmesan cheese, grated

• 1/2 tsp black pepper • 1 cup baby arugula

DIRECTIONS

1. Heat oven to 425 F. 2. In a large pot, cook spaghetti until al dente. Reserve 1 cup of water before draining and put spaghetti in a covered pot to keep warm. 3. Line a 15x10-inch baking pan with foil and toss in asparagus and olive oil. 4. Cook asparagus for 5–7 minutes and sprinkle with lemon zest. 5. Add 3/4 cup of the reserved water, Parmesan cheese, and pepper to the spaghetti. Stir until creamy. 6. Toss in asparagus and arugula before serving.

Inspired by Eating Well

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