Relocating to Florida? Here’s what trust professionals should consider.

Florida’s trust and wealth management sector is growing, and many employers are looking beyond the local market to fill niche roles. In this article, Victus Search director Christopher Costi looks at the scale of the opportunity and the key factors trust professionals should take into account before planning a relocation.

What’s driving demand for trust professionals in Florida?

Substantial private wealth is flowing into Florida. Henley & Partners’ USA Wealth Report 2025 recorded millionaire growth of 94% in Miami and 112% in West Palm Beach, and IRS migration data shows Florida gained $20.6 billion in adjusted gross income from people moving in from other states in the 2022 tax year – more than any other US state. 

That influx of wealth has driven up demand for trust professionals. Florida law firms have treated trusts and estates as a priority growth area because of the wealth influx, and the state’s banks are responding to the surge, launching trust divisions to serve high-net-worth clients.

We’re seeing a state-wide shift, where opportunities aren’t limited to traditional financial centres such as Miami and Palm Beach. Victus Search is currently recruiting for trust roles in Tampa Bay, Sarasota, Venice and Vero Beach. And many of the firms hiring don’t expect to fill every senior role from the local market, which means attracting experienced professionals from other states to relocate. If you’re considering such a move, this is what we’d think about first.

Factors to weigh up before you move

• The real cost of the move. Housing and home insurance vary a good deal between cities and even between neighbourhoods. Price up the move you’d actually make, not the state average.
• Local trust and estate knowledge. In trust roles, skills and knowledge are largely transferable, but there may be state-specific details which you’ll want to ensure you’re informed on before planning a move. We’ve written before about how state trust laws shape recruitment.
• The whole package. Look beyond base salary to bonus, relocation support and start date. Employer relocation payments are generally treated as taxable income, so ask whether the package is grossed-up to compensate for any deductions that will apply.
• Quality of life factors. Schools, healthcare, cultural opportunities and even weather make a big difference to your quality of life. If you can, spend time in the area before you commit.

Tax implications when relocating to Florida

Florida is generally known as a low-tax state. It has no state income tax on earnings, no tax on capital gains or investment income, and no estate or inheritance tax. Federal taxes still apply in full, and the state raises money through other routes, including a 6% sales tax (local rates push the average to around 7%) and property tax.

However, changing your address doesn’t automatically change your tax residency. States such as New York and New Jersey can still tax you as a resident if you keep a home there and spend more than 183 days in the state, even if you’ve made Florida your permanent home. The burden of proof usually sits with the taxpayer, so people who move tend to keep a record of where they spend their days. Many also file a Florida Declaration of Domicile. It isn’t required, but it shows your intent, and it works best alongside a Florida driver’s licence, voter registration, vehicle registration and a change of address with the IRS and your old state.

Property tax is another factor to consider. Florida homeowners can claim a homestead exemption, currently around $50,000 of assessed value. On 3 November, voters approved Amendment 3, which raises the exemption for non-school property taxes to $150,000 from 1 January 2027 and $250,000 from 1 January 2028. But – worth noting – per the amendment, homeowners who weren’t Florida residents on 31 December 2026 get the existing $50,000 exemption first, and the larger one only from their fifth year of claiming it.

This is general information, not tax advice. Rules differ by person and by state, so it’s worth speaking to advisers in your home state and in Florida before you move.

How Victus can help

At Victus, we work with trust and fiduciary firms across the US, UK and Europe. We can help professionals judge whether a move to Florida makes sense for them, and we can help employers shape offers that work for candidates relocating from elsewhere. Contact us to talk through your objectives in confidence. And for more on the market, see our piece on why Florida is attracting more trust professionals than ever.