Getting ready to move? Or thinking about it? Roughly one in seven Americans move every year, according to the U.S. Census Bureau. Some of the moves are merely across town, but about one in three are to another county or another state. Whatever move you're planning, it will have financial consequences. Here's a checklist to help you manage the financial impact.

Before saying yes to a new job or new position with your current employer, or before simply pulling up stakes and heading off somewhere you think you want to go, examine the financial consequences of the move.

Is the cost of living where you moving to higher or lower than where you live now? Home prices are especially critical, as well as transportation and food. The pay from a new job may compensate for any extra cost-of-living, but for someone on limited retirement income, higher costs may be prohibitive. One way to check out local expenses, besides contacting the local chamber of commerce, is go online and plug "relocation" into a search engine. You'll come up with numerous sites that compare living costs around the country.

Taxes are another issue. Does the state have a higher or lower income tax? New York and California have high state income taxes, while Wyoming and Texas have no state income tax. Income, sales, property and other local taxes are another factor. Some states and counties tax intangible property such as stocks, bonds and other securities-something to consider if you have an extensive portfolio. Gift and estate taxes raise consideration if you plan to gift a lot or have a large taxable estate.

It's common for both spouses to work. If they move because one of them has a new job, the other spouse will probably need to seek new employment. What are the job opportunities in the new community?

Do you sell, rent out, or keep your old home? This decision will depend on several factors, not the least of which is whether you'll need the money from the sale of the old home to put toward a new one. How hot or cold the respective local housing markets are also is a factor. Could you buy back into the area if you decide to return?

Should you decide to keep the old homestead, be clear where you want to establish permanent residence, known as establishing domicile, if you move to another state. Say you move to a state with lower estate taxes than where you live now, but maintain your old home. At your death, the old state may be the one to tax your estate, not the new one, if you don't properly establish permanent residence in the new state. Or you could end up being taxed in both states. Registering to vote, getting a driver's license and registering your vehicles, paying taxes and spending most of your time in the new state should help clarify the issue. Review the residency and "substantial presence" laws with an attorney.

Also have a local attorney check out your wills, powers of attorney, living wills and other estate planning documents to be sure they are in compliance with the laws of your new state. New estate planning strategies, such as trusts, may be in order if you end up owning property in more than one state.

Review your insurance policies. The new location may have less or more expensive car insurance. Take the opportunity to shop around for a new insurer. See if your homeowner's policy will cover your possessions in transit, and if it does, see if its coverage and cost is better or worse than the mover's coverage.

New health insurance may be in order. You may or may not have a waiting period for pre-existing conditions. If you're not fully covered immediately under the new employer's policy, don't risk "going naked." Either buy a short-term medical policy until your employer's coverage kicks in or extend the coverage you had with your previous employer under COBRA, a federal law that applies to companies of 20 or more employees and a group health plan.

Don't cash out your retirement plan. So often when people move and change jobs, they cash out their retirement plan, using the money to help move, buy a new car or put into a home. Even if you're young and it's a small amount, that money could have compounded substantially over time.

This article was produced by the Consumer Affairs Dept. of The Financial Planning Association and provided to you courtesy of Nigel B. Taylor, CFP, Santa Monica, California. If you have any questions or concerns regarding this, or any other financial topic and are a resident of Southern California, please call me at 1-800-444-2237 (California residents only please), or click on the "MORE INFO" button to arrange for a free initial consultation in the comfort of your home or office.