St. Joe Company, the second largest private landowner of Florida, has made a name and reputation in real estate development and sales as well as timber. It has about 31,600 residential units and 11.6 million square feet of commercial space. From retirees to families of any size, these residential communities, always built near a body of water – either river or sea – epitomize Florida’s tropical living paradise.

Meanwhile, Foley Timber Co has just recently finalized a plan to use the land for development and agricultural preservation. The involved communities are highly anticipating the fruition of these plans, bringing tremendous benefits to the environment and mostly to Florida’s economy and its residents.

What does this all mean for Florida?

It means that the real estate market in Florida, according to the Florida Domicile Handbook, is not only one of the most desirable locations in the world, but is situated in an economically stable and promising environment.

Business in Florida is good as noted by the continued projects for real estate development as done by St. Joe Comapny and Foley Timber Comany. This is also one of the reasons why one of the top three fields in Florida is in construction trades.

Investing in Florida is smart. The climate is business friendly as well as invariably tropical. My book, the Florida Domicile Handbook explains in detail Florida taxes, exmptions and those levied on business and properties.

First of all, buying a house in Florida is extremely affordable right now. A friend recently told me that his realtor found a home in foreclosure that they bought for $250,000. It was valued at $1.2 million just four years ago! Donald Trump bought a Palm Beach estate for $41 million and put it up for sale at $125 million. You can find out how to leverage a relationship with a realtor in my book, The Florida Domicile Handbook. Plus, I explain your options with financing and homeowner’s insurance.

Florida’s homestead asset protection laws are great for retirees who are planning to declare Florida as their domicile. I give more detailed information on homestead and tax exemptions in the Florida Domicile Handbook.

Take for example the elderly mother who wants to give her home to her children upon passing. She put her home in a QPRT (Qualified Personal Residence Trust), thereby lowering the gift and estate taxes. Now, she still gets to live in that same house until she dies, paying only a minimum rent and with the real estate value of her home going up.

Another reason why Florida offers the best active senior lifestyle is the health care choices. In addition to world class facilities like the Cleveland Clinic and Mayo Clinic, Florida has many top rated hospitals and assisted living facilities. This is not to say that Florida specializes in senior care only. Medical facilities and health care providers in the state are known for medical advancements in cancer care and pharmacology among other fields.

Florida does give retirees the second (and, in all probability, the best) life that they have always wanted. In Chapter 11 of my book, you can read about all the comprehensive healthcare options available to seniors.

The Florida Domicile Handbook will also give you a step-by-step guide on how to establish a Florida domicile with a few helpful Q & A’s about changing homesteads to guide you through a smooth transition.

Yes, it does!

This is what Legoland is expected to do and anticipated to bring into Florida when it opens later this year. Creating about 1,000 jobs, it is yet another testament to Florida’s growth rate which is double the national average.

The theme park career opportunities add up to the other job options flourishing in Florida. Computer and technology, health care and construction trades are likewise making a splash in Florida careers.

I include several useful resources and statisctical information in my book, the Florida Domicile Handbook, that will help you determine whether relocating your business to Florida is worth the investment.

When it comes to fun things to do, Florida residents are never sedentary. With diverse activities available to its equally diverse residents, Florida offers sophisticated shopping destinations, cutural arts attractions, and golf courses scattered throughout the state. This on top of the family favorites of theme parks, beaches to swim in and other water-related activities.

To your advantage, the Florida Domicile Handbook includes many factoids on points of interest around Florida including demographic information and historical facts broken into geographic sections.

To learn more about the benefits of living the Sunshine State, get a copy of the Florida Domicile Handbook. It has sidebars with nuggets of information that explain why Florida is the ideal place to raise a family, have a career and invest in the economy.

In the article, author Elizabeth Ody, explains that “A dynasty trust funded with $10 million from a couple today could be worth as much as $184 million in 50 years, assuming no intergenerational transfer taxes and a 6 percent annual return, and before subtracting any federal income or capital-gains taxes paid on the trust’s investment returns. By comparison, assets not placed in a trust and taxed twice as an estate in that period could be worth $39 million at the end of 50 years, assuming a $1 million exemption and 55 percent top rate.”

This is a significant benefit to consider and should not be overlooked when you’re preparing your estate plan.

Many families in Florida have turned to funding dynasty trusts as a way to keep assets within the family. This type of trust has no expiration date, and assets (such as cash and stocks) can be passed on to multiple generations while increasing in value.

A dynasty trust essentially holds assets in trust without transfer of ownership to a beneficiary. Instead, future generations receive distributions from assets within the trust. The trust allows assets to grow safely and for tax purposes, assets remain valued at the amount they were worth when the trust was originally created, and for as long as they stay in the trust. Appreciation on those assets is exempt from estate taxes.

Protection provided by the dynasty or the “generation-skipping” trust is absolute so that future creditors of current or future family members cannot touch it. In Florida, an Irrevocable Life Insurance Trust (ILIT) can be designed as a dynasty trust. The ILIT allows proceeds to reach future generations and is not limited to the generation immediately following the grantor. Plus, each beneficiary will avoid being levied a tax.

Proper estate planning is vital to any family: not solely for millionaires. If you have assets that you want to protect or ensure the inheritance of your life’s accomplishments, then Florida law provides such protection through vehicles like the ILIT at generally less tax impositions compared to other states.

In my book, the Florida Domicile Handbook, you can find more information on these benefits of trusts.

But I’m certain you’ll find the reasoning is undeniable. Florida domicile offers one the most sensible asset protection destinations in the United States today. To find out more about Florida’s tax haven status, purchase a copy of the Florida Domicile Handbook.

Florida has numerous retirement communities, each with their own medical facilities. Because of the influx of retirees that head for better weather during the autumn of their lives, Florida has made the necessary accommodations. And these are not your “nursing-home type” facilities either. Each community focuses on care and social events.

There are also assisted living retirement communities perfect for senior retirees who require help in daily tasks such as shopping or keeping the lawn trimmed. Or communities for those that require medical care but not hospitalization. In a nutshell, these communities put a premium on the quality of life of its occupants.

Cost of living, including housing, utilities, food, transportation and taxes, is average in Florida compared to other retiree-desirable options. Being a tourist destination may have an effect on this. Nevertheless, living expenses are relative to lifestyle choices and personal choices.

Florida’s tax climate is ideal not only for businesses but for retirees as well. Aside from enjoying no income tax, there is no inheritance tax and no separate state estate tax.

Lastly, Florida has the best weather and superb attractions – both in natural resources and tourist destinations. The tropical Floridian weather is good for retirees and is usually the number one consideration on the “retirement requirements” list.

Florida is the retirement spot of the United States, sometimes involuntarily when retirees just seem to gravitate towards a certain community. And along with the natural factors, we have embraced this calling and fashioned lifestyles for those who want to spend their “vacation years” here.

For an in depth look at the benefits of retiring to Florida, get a copy of the Florida Domicile Handbook. It will help you make an enlightened decision on your retirement place.

Take for example the case of the Lumpkin siblings of Columbus, Ohio. The remainder of their deceased father’s estate has not yet been divided between the siblings 11 years after his death. There have been losses to the estate because of the unresolved feud which has escalated and caught state-wide media interest.

The law requires that all state representatives arrive at a unanimous decision on matters of the remainder of Lumpkin Jr.’s estate. Unfortunately, this is a very bad idea for this family as the siblings apparently could not see eye to eye. This drama has dragged on for years, causing significant losses to the estate and has branched out into personal conflicts and lawsuits from both sides.

Most people have heard of trusts, but they do not understand what they do and usually think they are tools for rich people. The truth is that trusts are not complicated and can be useful for virtually everyone.

There are two basic types of trusts, the revocable (living) trust (RLT) and irrevocable trusts (IRT) and depending upon your goals, you may want to use one or both types.

There are four primary purposes for forming and funding a RLT –

1. avoid probate,

2. take care of your wishes in the event you become incapacitated and cannot manage your own affairs,

3. take advantage of certain tax benefits, and

4. protect your loved ones in a way they cannot do for themselves.

Irrevocable trusts have various uses and, depending upon your specific goal(s), have various names and acronyms. For example, the Charitable Remainder Trust (CRT) is an irrevocable trust that can provide many benefits to you and your family while you are alive and take care of any charitable intent you have when you are gone.

Irrevocable trusts sound ominous because of the word “irrevocable,” but a properly structured irrevocable trust can provide for changes in the future through the use of a trust “protector.” A trust protector is someone named in your trust that you, as the “grantor,” can give the power to make specific changes in the future. The trust protector cannot be the grantor (you), the trustee or the beneficiary(ies).

You can learn more about the different kinds of trust funds in chapter 4 of  The Florida Domicile Handbook.

An estate or inheritance tax is levied on an heir’s inherited assets if the value exceeds a threshold set by the state. In Ohio’s case, the exclusion limit is set at $338,833.

A coalition, called Protect Ohio’s Communities, contends that the estate tax constitutes a significant portion of the state’s budget. Repealing estate tax will adversely affect community services. Further, to make up for the lost budget, some other area will only be taxed or existing taxes will be raised.

On the other hand, Sen. Grendell supports the repeal of the estate tax in Ohio. To quote, it is “socialist and un-American.” He maintains that taxing estates has caused residents to move to Florida. And since this tax is dependent on deaths, the annual amount cannot be consistent hence should not be relied on to fund community services and expenses.

The House bill 153 for the repeal of the estate tax is now being considered by the Senate.

The battle continues in Ohio, while Florida continues to enjoy freedom from a separate state estate tax. The Economic Growth and Tax Relief Reconciliation Act of 2001 ensured that a separate estate tax would not be levied on Floridians without voter approval. When the Act went into effect, Florida opted not have another form of taxation to replace it.

Ohio, like a handful of states, is waking up to the reality that reducing taxes is a way to create jobs and keep people from moving to other states like Florida which are much more tax friendly. Ohio and the rest of the “rust belt” states need to focus on what is best for their residents. In my opinion, they should start by reducing taxes and the size of government. If they don’t more people will flock to states like Texas and Florida where the burdens imposed by government are much less severe.

To learn more about Florida’s taxation (or freedom from it), read Chapter 2 of the Florida Domicile Handbook.

Jeter has long planned this project, buying adjacent lands in Davis Islands since 2005. The mansion, built in an English Manor style and situated near the water, cost $7.7 million.

With seven bedrooms and nine baths, the 30,000 square feet domicile sits on three lots in the Bahama Circle. It has two 3-car garages, a swimming pool that overlooks the ocean, a billiards room and a memorabilia room. Of course, it also comes with a small pier. All this to be protected from the public eye with a 6-foot privacy fence.

The Yankee reportedly made $21 million last year, so the $7.7 million mega mansion should be covered. Jeter also has another smaller house in Avila. Smaller because it is only 4,000 square foot and only cost him a mere $1 million. It is situated in Avila Golf and Country Club, north Tampa.

Aside from his homes in Florida, Jeter’s other assets include homes in Marlboro, New Jersey, Greenwood Lake, New York and a Trump World Tower apartment in Manhattan – the latter being currently in the market.

Jeter has claimed Florida residency, hence his exemption from state income tax. Although he works in New York, his residency and majority of assets are in Florida. Since 1994, Jeter has maintained a Tampa residence when he first started out with the Yankees.

Back in 2007, Jeter was hounded by New York tax officials. The issue was his failure to pay taxes between the years 2001 to 2003. His apartment purchase in the Manhattan Trump World Tower and an $8,000 monthly rental in Long Island brought him under tax scrutiny.

This new mega mansion in Tampa will help prove his intent and slide the scale in favor of Florida domicile. Assuming Jeter has filed a declaration of Domicile in Florida, his homestead will be under the vast umbrella of the asset protection laws of Florida.

Read all about Florida Homestead laws and protection in Chapter 3 of the Florida Domicile Handbook.

As of 2010, the 82.6 million tourists who came to vacation in Florida generated an income of $60.9 billion. That number excludes the tax revenues and personal and business incomes of the residents. With income from tourists supporting businesses, tourism has become the primary source of income for the whole state. Here is the trend of tourism in the past decade:

Year	Total visitors in millions
1999	58.9
2000	72.8
2001	69.5
2002	73.9
2003	74.6
2004	79.7
2005	83.6
2006	83.9
2007	84.5
2008	84.2
2009	80.9
2010	82.6

Since 2005, tourism has slowly but surely picked up, with a slight hiccup in 2009 from the worldwide economic recession. But since last year, the numbers are starting to rise and will hopefully continue on an upward trend by the end of this year.

So why do they come to Florida? The biggest factor would be the reliable sunshine when they hit the long expanse of white sand beaches. Supporting the influx of tourists are the competitively priced rental homes and hotels. There are also popular destinations like the Walt Disney World theme park, and amazing state parks. Younger tourists can hit the local bars and restaurants, and for the romantically inclined, there are little islands for the perfect getaway. Because Florida is beautiful both progressively and naturally, it creates the perfect balance of the island escape, the city life and everything else in between. It is the best of both worlds.

To learn more about what Florida has to offer, read the Florida Domicile Handbook.

The Golden Spoon Award is Florida’s very own award of where to get the best dining experience in town. It is a reliable source of where and what in the world in relation to Florida dining. It’s basically a guide for the unfamiliar traveller or the adventurous resident on where to eat for breakfast, lunch or dinner.

The Golden Spoon Award is given out by the Florida Trend, a monthly magazine and website that relates the defining factors of Florida business. Their latest awardee is The Forge in Miami Beach owned by Shareef Malnik. Dubbed as an eclectic restaurant, it attracts the big time spenders and the regular people alike. From checking your Facebook by a table near the fire to clinking wine glasses of Bordeaux with a five-course meal, this place gives dining a reinvented experience.

There have been more than 60 restaurants that have been awarded the Golden Spoon. They all serve different kinds of food – from Italian, Contemporary, Mediterranean, New Continental, Modern French, Asian, Seafood, Carribean Fusion, Classic American, Coastal, French and various fusions in between. And these restaurants come from everywhere – from Boca Raton to Winter Park. Miami and Miami Beach taking the limelight with 5 Golden Spoon Restaurants in the area. Just looking at the list, you will see the colorful people that dine, drink and celebrate their lives in Florida.

The Golden Spoon also has Hall of Fame list for restaurants that have stood the test of time and have maintained their Golden Spoon Awardee status. Their Best New Restaurants and Golden Brands list – the best restaurant chains in Florida – are also interesting and helpful guides for those looking to taste the finest that Florida has to offer.

To get to know more about Florida’s amazing culture, people and places, check out my book, the Florida Domicile Handbook to get a real glimpse into Florida living.