If you are thinking about possibly becoming a snowbird, it’s a good idea to do some financial and estate planning first. A recent study from Maryland indicates that by age 61, the majority of individuals feel as though they are free to choose where they want to live the most. Earlier in life, however, many people say that their life responsibilities such as their place of work and their family will dictate where they dwell. This means that it’s no surprise that some retirees will choose to move at least part-time to a new location.

Approximately one-third of retirees told Merrill Lynch that they have already moved to a new location part or full time and another one-third anticipate doing so shortly. It is important to consider which place you intend to keep as your primary place of residence if you are considering your estate planning options.

Some states have no income tax, for example, and others have tax rates for retirement income and on real estate taxes for older individuals. Estate taxes can also be more favorable in some states than in others. Regardless, you should have a conversation with your experienced estate planning attorneybefore you identify a new place to move to.