015: Changing Your Domicile to Reduce High Taxes + Financial Risk Forecasts for Investors with Brad Galbraith and Shaun Rowles

In this episode of Saving With Steve, host Steve Sexton is joined by Brad Galbraith, an attorney, CPA, and creator of ChangeMyDomicle.com, and Shaun Rowles, an experienced Portfolio Manager and the creator of Watchpoint Analytics.

Last year in the state of California alone, over 663,000 people moved out of state to states with lower or no state taxes. The same thing is happening to all high-tax states like New York, New Jersey, Illinois, and more. The reality is a state like California doesn’t want to lose your tax dollars and will do everything to keep you paying, so it’s important to learn how to pass your state’s domicile test.

My first guest today Brad Galbraith, is an attorney, CPA, and creator of ChangeMyDomicle.com. He joins us today to discuss how every state has its own test for domicile and why failing to pass the test comes at a very high price. Brad shares how ignoring your current state’s laws regarding domicile could lead to unnecessary stress, audits and income tax, and estate tax claims by your current state even after you have attempted to change your domicile. He also talks about five things to consider before changing your domicile, how to change your state’s registry, and how to defend against an audit in reference to your domicile state.

How would you like a technology tool that forecasts financial risk for Investors, helping you identify when a risk is too high? My second guest is the creator of Watchpoint Analytics, Shaun Rowles, who has nearly two decades of experience in wealth management as an active Portfolio Manager for some of the nation’s largest banks and the world's largest Wealth Management company. He joins us today to discuss how Watchpoint Analytics enables the average investor to enjoy better risk management by forecasting warnings well in advance to indicate to investors when they are taking on too much risk and that there is a high probability of loss.

We also talk about seven different tax scams and what you can do to protect yourself.

Brad A. Galbraith is the Managing Partner at Galbraith, PLLC’s Naples and Indianapolis offices. He focuses on providing creative, cutting-edge estate, tax, and business planning advice to business owners and other wealthy individuals. Brad is board certified in Wills, Trusts and Estates by The Florida Bar Association.

Brad began his professional career as a Certified Public Accountant. After switching to the practice of law and seeing the ineffectiveness and inefficiency of traditional planning methods, he endeavored to find a better way to assist his clients with estate, tax and business planning.

As an estate planning attorney, he developed a model designed to provide clients with comprehensive, personalized estate, tax and business succession plans that withstand the test of time.

Brad maintains an Indiana CPA license and is a frequent presenter on estate and tax planning topics to CPAs and attorneys at conferences and continuing education events throughout the United States.

Additionally, Brad is the co-author of an extensive continuing education program for CPAs which has been published and distributed nationally. That program, entitled Estate Planning for CPAs, has also been presented to thousands of CPAs throughout the United States.

Brad is also the author of several books, including: Intentionally Defective Grantor Trusts Line By Line, Family Limited Partnership Agreement Line By Line, Family LLC Operating Agreements Line By Line, and co-author of Disinherit The IRS, Don’t Die Until You’ve Read This Book, The Four Corners: Where Your Estate Plan Becomes A Living Legacy, and The Florida Domicile Handbook. Brad is admitted to practice in Indiana, Florida, and before the U.S. Tax Court.

Shaun Rowles has nearly two decades of experience in wealth management as an active Portfolio Manager for some of the nation’s largest banks and the worlds largest Wealth Management company. 

He is the author of multiple white papers on investments and the upcoming book “FinTech: The Evolution of Money From Bullion to Blockchain,” a financial historian’s view of how our relationship with money has changed over time. Two of his white papers, “Inflation Targeted P/E” and “Extreme Valuations and Future Returns of the S&P 500,” have both become a Top 10 download at the Social Science Research Network and are also being published in the International Journal of Management Research and Economics.

Shaun is an avid researcher and lecturer on Central Bank Policy Effects on Securities Markets and advocates for improved financial literacy. 

Having lived, studied, and served as a student ambassador in the United Kingdom, France, Bulgaria, and China, Shaun utilizes his global perspectives combined with astute attention to changes in the macroeconomic environment to manage risk and optimize portfolios for his client base. 

Shaun is the creator of Watchpoint Analytics, a state-of-the-art technology platform that forecasts overall market risk conditions, helping investors to avoid dangerous market conditions. 

Rowles says the underlying algorithms used in this technology predicted the uncertainty in the market in early 2020 with a risk alert peaking on March 2nd as the COVID-19 pandemic began to spread in the U.S. It’s these types of uncertainties that Watchpoint Analytics can forecast well enough in advance to warn investors, much like a weather radar forecasts a storm approaching.

To learn more about Watchpoint Analytics, visit their website at www.WatchpointAnalytics.com.