Moving? Establishing Residency

If you are moving to another state, you will have to establish residency.  Each state differs on the time allotted to do so.  In any event once you are settled, take the time to establish residency.  You can do that by getting a driver’s license, registering to vote and homesteading a property if that is applicable.  If you purchase a home, you will have to declare whether or not it is your personal residence.  Every state has different filing instructions but if indeed it is your personal residence, it behooves you to homestead.  It directly impacts your property tax rate.

Establishing residency is also important for college tuition.  There may be requirements based on the length of residency.  So if you are planning on attending or transferring to another school, take the time to familiarize yourself with their residency requirements because it will impact you financially.  Prior to moving, visit the Secretary of State website for the state you are planning to move. This will help educate you on their residency requirements and fees associated with registering vehicles.  This way you can plan accordingly.

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