Florida to NH ????

[Mirror Lake's BB]

5 years ago, my dad passed away at his residence in NH. If your estate is below a certain threshold there isn't any inheritance tax. I think it was $1M or $1.5M (I think these amounts are incorrect). Something to keep in mind. Perhaps someone on the Forum knows what the current law is.

[Slickcraft]

Originally Posted by Mirror Lake's BB

5 years ago, my dad passed away at his residence in NH. If your estate is below a certain threshold there isn't any inheritance tax. I think it was $1M or $1.5M (I think these amounts are incorrect). Something to keep in mind. Perhaps someone on the Forum knows what the current law is.

Federal exemption is $5m indexed to inflation, may be 5.25M or so this year. The state of NH has no estate tax.

http://www.kiplinger.com/tool/retire...Hampshire&si=1

[ishoot308]

Originally Posted by Slickcraft

Federal exemption is $5m indexed to inflation, may be 5.25M or so this year. The state of NH has no estate tax.

http://www.kiplinger.com/tool/retire...Hampshire&si=1

I thought the exemption changed to 1 million in the "Death Tax" as of January 1, 2013?? I could be wrong...

[Slickcraft]

Originally Posted by ishoot308

I thought the exemption changed to 1 million in the "Death Tax" as of January 1, 2013?? I could be wrong...

The act passed on Jan 2, 2013 fixed this, never went back to $1m (well for one day maybe but the act is retroactive to 1/1/13).
http://www.mondaq.com/unitedstates/x...e+January+2013

[ishoot308]

Originally Posted by Slickcraft

The act passed on Jan 2, 2013 fixed this, never went back to $1m (well for one day maybe but the act is retroactive to 1/1/13).
http://www.mondaq.com/unitedstates/x...e+January+2013

So I was right for a day...I'll take it! That's better odds than I have with my wife!!

Dan

[BroadHopper]

Explains why you don't see many Californians moving up here.



https://www.youtube.com/embed/_6t-Ej...layer_embedded

[Flylady]

Ha Ha,
Jimmy is right on! While I have been here over 30 years, it still is funny to see my co workers coming into the office with wool coats, gloves, scarf and hat and winter boots because its 45 degree out in the morning!

[TiltonBB]

If you are "sick of high rise condo living" why not try a one level first floor condo, single family or town house? That is one of the things I thought about when I had a single family built in 2006 in southwest Florida. One level living for when mobility becomes a problem and an easy walk into the house from the garage when carrying groceries etc. I have family members that have a 10th floor unit near Sarasota but every time I visit it and take the elevator up feels like a hotel, not a home.

The trees and shrubs are always green in Florida and the roads always look clean. It has ranged between 81 and 83 every day for the past 7 days. What's to dislike?

I used to get a little depressed all winter waiting for summer to come back. When the skies turn cloudy and grey I am ready to leave Gilford. I winterize the house so the NH utility bills are minimal and the Florida bills are very reasonable. I really think that my total utility bills for the year are less than if I stayed in Gilford all year. Your cars will last longer if you don't drive them in salt all winter too. I have also noticed that the windshield on the Florida car does not get all pitted like it does up north because the sand is not coming up from the road and sandblasting it as you drive.

I got to a point where I didn't enjoy driving in snow or being stuck in the house when it snowed because I was always worried about what the "other guy" on the road was going to do. I don't care to ever get in a cold car or scrape the ice off of a windshield again! And, my Florida car is always clean.

So, my answer to the question is you should live somewhere where you can wear shorts and boat shoes all year long. But, I have been fortunate to boat on Winnipesaukee every summer for the last 40 years and I wouldn't miss that for anything. As nice as Florida is right now I am still looking forward to late April or early May and returning to the lake, opening the house up, and putting the boat in the water.

I know that is just my opinion and if you love winter and ski or snomobile, you will have an entirely different outlook.

[SIKSUKR]

I think you did good making it 5 years.I only lasted 2 months and couldn't wait to get back.

[bearislandbaby]

Rent out your Florida home. I miss the Lake so much but just a phone call to my brother-on Bear Is-telling me he;s snowed in and it's 2 below,no thanks.I'll stay here on the beach in the 80 degree weather and enjoy the lake via my computer!

[Jeanzb1]

Thank you to all of you for your thoughts. We really appreciate all the comments, as it gives us lots to ponder.

At this point we don't know what we're going to do. This is a big decision for us. We're hoping that the answer will become clear to us over the course of the summer.

But one thing we do know for certain is that we're leaving Florida at the very end of March and cannot wait to get back to the lake, paradise, our favorite place on this entire planet.

And we're already anticipating the day we pick up our new boat at Shep Brown's, they take us out for an hour or two to show us how everything works, and then we motor off down the lake towards home for the very first time as new boat owners!!!! OMG, do you think we're just a little bit excited?!?!?!?

[mikea]

Originally Posted by Jeanzb1

Thank you to all of you for your thoughts. We really appreciate all the comments, as it gives us lots to ponder.

At this point we don't know what we're going to do. This is a big decision for us. We're hoping that the answer will become clear to us over the course of the summer.

But one thing we do know for certain is that we're leaving Florida at the very end of March and cannot wait to get back to the lake, paradise, our favorite place on this entire planet.

And we're already anticipating the day we pick up our new boat at Shep Brown's, they take us out for an hour or two to show us how everything works, and then we motor off down the lake towards home for the very first time as new boat owners!!!! OMG, do you think we're just a little bit excited?!?!?!?

with envy! Really hope all goes well for you guys, that the correct decisions get made and you enjoy the new boat to the full...

[Merrymeeting]

Originally Posted by Flylady

Ha Ha,
Jimmy is right on! While I have been here over 30 years, it still is funny to see my co workers coming into the office with wool coats, gloves, scarf and hat and winter boots because its 45 degree out in the morning!

I was in FL last week (yes, I'll admit, it was nice to be there while the cold was here), and it does seem a bit ridiculous.

I went for my morning run on a day when it was a wonderful and comfortable 58 degrees in the early AM. In my shorts and t-shirt, sweating profusely, I was running by people wearing fleece, gloves, and ear muffs!

[camp guy]

If you can possibly swing it, maybe you could rent out your Florida home and also rent a place to live up here for a year to see if this is really what you want. If you decide to stay, offer the Florida home to the renters for a buy out price, purchase something up here, and enjoy life.

Most of the times when someone posts the question of moving on this site the subject of renting comes up. I agree wholeheartedly that renting gives you the flexibility of finding a place, and an area, you really like. You seem to be pretty settled in your desire to move, and there is nothing wrong with that, but it probably wouldn't hurt to take some time to really look around and see where you want to live.

You said you are a boater, so that answers some questions, but there may still be lots of other issues to settle.

My best to you, Happy New Year.

[tis]

I think you might be mixing up the federal estate tax and the NH inheritence tax. NH used to have one for realtives like sisters and brothers or aunts and uncles, but not if it was passed on to children. That has since been abolished. But who wouldn't be surprised to see it brought back at some point?

The federal government has an estate tax too and that is for everybody, children included. I think the 5 million still stands despite disagreement over it in the recent tax fight where those making over $400,000 ($450,000 married) pay more taxes and everybody now has gone back to the full payroll taxes (Social Security and Medicare)

[Merrymeeting]

Everyone's tax situation is somewhat different, you should consult with your tax adviser, your mileage may vary, etc., etc.

But, my parents were/are NH residents with property in FL. My dad, who was pretty savvy on these things, researched the pros and cons of residence and taxes in each state. I've been managing their finances for the past several years and have concluded the same.

Namely (and in general), the two states are similar in their treatment of retirees and estates. While there are differences, and some benefits in some areas over others, the tax and financial choices between the states are close.
In general and given the choice, you should choose where your heart and mind are most comfortable.

They chose NH :-)

[Diver Vince]

The Federal Estate Tax for 2013 is 5 mil. This is of course linked to the unified gift tax credit taking into consideration all gifts greater than the gift tax exemption (14k for 2013). We have a bunch of turkeys in Washington and our tax policies are the laughing stock of the world.

Uncle Sam feels he's getting screwed by not collecting capital gains when the owner is still alive. At death the recipient receives a stepped up cost basis, ie the value of the asset when the donor dies. If the donee received the gift when the donor was still alive, the donee would inherit the donor's cost basis. Clear as mud?

[NoBozo]

I have another take when it comes to weighing Taxes Vs Quality Of Life in your retirement years. Quality Of Life trumps the other. It's YOUR LIFE... AND you can't take your money with you. NB

[John A. Birdsall]

Well 2011 took my parents back to Florida and they have stayed there. All I can say is thank heaven for air conditioning. They have no intentions of coming back to NH my mom loves the weather there and dad has a comftorable spot. Me. I have been down twice to see them, and I hate FL.

[ApS]

Originally Posted by John A. Birdsall

Well 2011 took my parents back to Florida and they have stayed there. All I can say is thank heaven for air conditioning. They have no intentions of coming back to NH my mom loves the weather there and dad has a comfortable spot. Me. I have been down twice to see them, and I hate FL.

That's a lot of territory to hate...

It can take me 12 hours to drive from Florida's southernmost point to Florida's panhandle city of Pensacola (FL). It can be 16º in Pensacola, while in the same hour it's 78º in Ft. Lauderdale.

It's mostly a state for the out-of-doors types, but many would live elsewhere if there was no air-conditioning available.

ETA:

...and then—there's this :

http://www.thatvideosite.com/v/7418/...ople-vs-winter

[robmac]

I couldn't live without the big lake however taking the family and boat to Port St.Lucie in the winter was perfect for us.Boating year round and meeting alot of new friends down south.BUT NEVER FULL TIME JUST COULDN'T BE AWAY FROM THE LAKE DURING THE SUMMER.

[Plumberswife]

Well, we must be crazy too!!! hubbie and I own a House on a mountain in Ossipee, have every intention of retiring there, or sooner!!!! Hate the heat!! Love the four seasons

[Jeanzb1]

To Plumber's Wife: We feel the same way! When it's 86 degrees and we're at the pool or on the beach, our friends down here in Florida think we're totally nuts to be envious of the snow, especially the big blizzards. But we are! There's nothing like the four seasons and there's nowhere on this planet that compares to New England!

[winnitru]

I am in Florida right now and very envious of those enjoying NH in the winter. I am in awe of NH and embrace the lifestyle and the people with great enthusiasm. We truly had intended to spend more time at the lake when our youngest went to college this year, but our cove was so desolate, and the darkness by 5 pm was so dreary that we needed to get to some populated geography.
We will continue to stay until October, but until June we will visit for a week or two at a time. YMMV, good luck making your decision.

[barefootbay]

It's the human condition . If you guys were here you would be envious of the sun,pool and 86 degrees. Been there !

[Argie's Wife]

Originally Posted by winnitru

I am in Florida right now and very envious of those enjoying NH in the winter. I am in awe of NH and embrace the lifestyle and the people with great enthusiasm. We truly had intended to spend more time at the lake when our youngest went to college this year, but our cove was so desolate, and the darkness by 5 pm was so dreary that we needed to get to some populated geography.
We will continue to stay until October, but until June we will visit for a week or two at a time. YMMV, good luck making your decision.

My enthusiasm for the winter ran out with the last snow storm.

I'll get excited again after a nice long, hot summer and a crisp fall. The first snow fall always makes me feel like a kid. But until then (and for now)... I look at the dirty snow, my heating oil bill, and just say "meh."

[dpg]

Heading to Florida in a few weeks but just to catch a cruise. Now NOTHING compares to Grand Caymens, Bahamas, etc. I do love NH but not the winters.

[Greene's Basin Girl]

I am in Florida for three weeks and I couldn't be happier. We left right after we received 14 inches of snow. As I age I prefer warm in the winter and NH warm in the summer.

[Jeanzb1]

Well, Florida for six months gets old real fast. Especially when you live in a high-rise condo filled with lots of drama day in and day out. Hopefully, we are leaving Florida next Thursday and will arrive at the lake the following day. I think Florida is great for vacations (when the weather is warm and sunny) but it most definitely lacks the four seasons and the charm of New England. Cannot wait to get back to the lake. Anyone know when Sawyer's is opening?!?!?!?

[Slickcraft]

Originally Posted by Jeanzb1

Well, Florida for six months gets old real fast. Especially when you live in a high-rise condo filled with lots of drama day in and day out. Hopefully, we are leaving Florida next Thursday and will arrive at the lake the following day. I think Florida is great for vacations (when the weather is warm and sunny) but it most definitely lacks the four seasons and the charm of New England. Cannot wait to get back to the lake. Anyone know when Sawyer's is opening?!?!?!?

April 12th, that will be just Fri - Sunday until Memorial Day.
http://www.sawyersnh.com/

[AB_Monterey]

Originally Posted by Jeanzb1

Well, Florida for six months gets old real fast. Especially when you live in a high-rise condo filled with lots of drama day in and day out. Hopefully, we are leaving Florida next Thursday and will arrive at the lake the following day. I think Florida is great for vacations (when the weather is warm and sunny) but it most definitely lacks the four seasons and the charm of New England. Cannot wait to get back to the lake. Anyone know when Sawyer's is opening?!?!?!?

I can't stand it for more than a couple months. We just got back on Sunday morning. We left on Jan 16 for Red Sox Fantasy camp and then spent the rest of Feb and Mar in the FT Myers area (with a brief stop in Miami for the half marathon).

By the time we got to the last few days, I was DONE. I'll take NH anyday.

BTW, Kissammee to Chester, 20.5 hrs. Left at 9:30am and was sitting in the local diner having my breakfast at 6:05 Sunday AM. I drive way too fast to worry about cholesterol.

[Happy Gourmand]

Originally Posted by AB_Monterey

I can't stand it for more than a couple months. We just got back on Sunday morning. We left on Jan 16 for Red Sox Fantasy camp and then spent the rest of Feb and Mar in the FT Myers area (with a brief stop in Miami for the half marathon).

By the time we got to the last few days, I was DONE. I'll take NH anyday.

BTW, Kissammee to Chester, 20.5 hrs. Left at 9:30am and was sitting in the local diner having my breakfast at 6:05 Sunday AM. I drive way too fast to worry about cholesterol.

That's quick...did Sarasota to Nashua in 23 hours a few years back, with wife and 3 teens. Fuel and pee stops only!! LOL

[Diver Vince]

Well Florida in the winter never really did anything for me. Being a diver, I have one of the greatest dive sites in my own back yard here on Bonaire. Will be returning to NH shortly and am ready for spring and especially summer on Winnipesaukee.

[Lucky2Bhere]

We moved to the lake full time about ten years ago. It was our dream and we loved every minute of it for about 3-4 years. As the years went on and I had more and more free time the winters became long, dark, and isolating. Besides about 20 ski days we were stuck inside. Walking on icy dirt roads past closed seasonal homes was different than walking past summer residents having a great time. We now spend the winter in Florida biking, bird watching, golf, tennis, and dining by the water. It's the perfect combination and we have wonderful communities of friends in both locations. Winter at the lake can be wonderful, but it depends on your wants and needs. Good luck! (We live in a zero lot line single family home, could not do a high rise)

[ApS]

Originally Posted by dpg

Heading to Florida in a few weeks but just to catch a cruise. Now NOTHING compares to Grand Caymans, Bahamas, etc. I do love NH but not the winters.

Where I winter in Florida seems somewhat uncivilized; however, a Wolfeboro friend has long been retired on a Bahamian Island: it's over 100 miles east-to-west.

• The islanders repair the roadways by themselves.

• Beaches are maintained by the islanders.

• For the island chain, voting-results take one month to discover the outcomes.

• There is no penalty for drunk driving.

• They all have Medjet-type insurance to fly to Florida when medical help is needed.

• The Bahamas Government has promised much more in medical care—and my friend's island did get their first piece of equipment—an X-ray machine.

[Jeanzb1]

The big decision has been made! We have bought a year-round house up here in Gilford and have our Florida condo on the market. While I do have some real sadness in leaving Florida -- especially our volunteer involvement with Save The Chimps sanctuary and my "little sister" through Big Sisters -- we are confident that we have made the right choice! After my husband has his knees replaced this winter in Concord, in subsequent winters we plan to return to Florida for a month or two as renters. In the meantime, we have four seasons to look forward to! You cannot beat the beauty and charm of New England!

[Slickcraft]

Originally Posted by Jeanzb1

The big decision has been made! We have bought a year-round house up here in Gilford and have our Florida condo on the market. While I do have some real sadness in leaving Florida -- especially our volunteer involvement with Save The Chimps sanctuary and my "little sister" through Big Sisters -- we are confident that we have made the right choice! After my husband has his knees replaced this winter in Concord, in subsequent winters we plan to return to Florida for a month or two as renters. In the meantime, we have four seasons to look forward to! You cannot beat the beauty and charm of New England!

Welcome Jeanzb1 and husband!

[HomeWood]

We (wife and I) can't wait to move back to New England. I moved to NC for a job and a job only. The summers here are nothing but pure misery. Luckily this one has been pretty mild.