Hello all,
I'm new to all of this, and don't plan to start my adventure for another 7 - 8 years. But that leaves lots of time for planning and education.
One conundrum I have; I plan to sell my small condo (no need to ever return here) and purchase a 50 - 55 foot trawler. I really like the Grand Banks. We plan to cruise the world for 5 - 7 years before selling and probably move into a retirement setting.
So, here's the rub. If I sell my home, and set to sea, where do I live? Can I just claim residency in any State (e.g. one with low income tax), or do I need to "live" there? And, if so, where would I live if I lived "nowhere" (or everywhere). Things like driver's licenses etc come to mind.
Has anyone solved this residency issue, if they own no real estate?
I'm new to all of this, and don't plan to start my adventure for another 7 - 8 years. But that leaves lots of time for planning and education.
One conundrum I have; I plan to sell my small condo (no need to ever return here) and purchase a 50 - 55 foot trawler. I really like the Grand Banks. We plan to cruise the world for 5 - 7 years before selling and probably move into a retirement setting.
So, here's the rub. If I sell my home, and set to sea, where do I live? Can I just claim residency in any State (e.g. one with low income tax), or do I need to "live" there? And, if so, where would I live if I lived "nowhere" (or everywhere). Things like driver's licenses etc come to mind.
Has anyone solved this residency issue, if they own no real estate?