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.
Despite the uncertainty of a post-pandemic economy, Sundae is making it easier for investors to buy properties and create competition to drive up prices for homeowners. Sundae is the only marketplace that connects homeowners that are looking to sell their property as-is to the largest network of vetted local investors to ensure that they receive the highest possible offer.
My second guests, Polina Ryshakow and Shane Steele, Chief Valuation Officer and Chief Marketing Officer at Sundae, join us today to provide insight on what's been going on with the real estate market during the pandemic, how long they think this market will last, and the predatory games that are played by many real estate investor networks.
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.
Polina Ryshakov is the Director of Valuation, Senior Director of Research, and Lead Economist at Sundae, which is a company that offers an alternative to the unpredictability of the traditional real-estate agent sales process, allowing homeowners to sell as-is, on their timelines.
Sundae was founded by seasoned finance and operations executives who helped build industry-leading technology and marketplace businesses, and together their founding team brings 35+ years of experience in real estate investment.
She is a Real Estate Economist with more than 15 years of valuation experience across commercial and residential real estate.
Polina has extensive research and analytic experience, and her background includes stints with Cushman & Wakefield, Hanley Wood Market Intelligence, and Standard & Poor’s.
She graduated with a double major in Economics and International Relations from the University of California at Davis and has been a CAIA Charter Holder since 2010.
Shane Steele is a high-growth marketing executive who’s passionate about building iconic consumer brands. With over 20 years of experience ranging from startups to Fortune 500 companies, she combines a human-centered approach to storytelling, branding, and product development with data-driven experimentation and analytics.
Shane has built global marketing organizations from the ground up giving her a unique mix of hands-on tactical experience and the strategic marketing skills required to build and lead high performing teams.
She has spent her career focused on the intersection of business, marketing, and technology, and has played marketing leadership and advisory roles for a variety of companies from digital agencies to start-up internet businesses to some of the world’s largest global brands.
Shane was previously Twitter’s global head of sales marketing, where she lead integrated marketing, sales enablement, and customer education for Twitter’s advertising business. She joined the company in February 2011 from Yahoo!, where she served as the company’s vice president of global marketing.
Before Yahoo!, Shane held a variety of marketing positions at companies including Coca-Cola, Sapient, and Tremor Video. She is a graduate of Cornell University.