Austin continues to be a popular city for new residents moving in from all over the country. We have been fortunate to assist many clients who moved here from all over the US. Clients move to Austin for a variety of reasons, including weather (usually!), jobs, family, and the popular prospect of escaping higher taxes in other states. New Texans need to establish Texas residency to ensure that their former state has no claim on their money. If you are a new Texas resident, please make sure you add the following items to your task list:
Get a Texas driver’s license and register to vote.
Inspect, insure and register your vehicle in Texas.
Open a bank account at a local bank or credit union. Obtain paper checks with a local Texas address.
Update your estate plan. Certain documents such as your Financial Power of Attorney, Medical Power of Attorney, Will and Trust are easier to execute in the state if they’re updated to reflect Texas law.
If you own a business, make sure your business is registered to do business in Texas.
Consider meeting with a tax and/or financial advisor to review your portfolio and discuss any potential changes.
Get involved in the community! Become a member of a church or place or worship. Establish relationships with local care providers (i.e. doctor, dentist, veterinarian, etc.). Join a gym, club or volunteer organization.
Whatever the motivation to make Texas your new home, we certainly hope you feel welcome in this great state! We are glad you are here.
