How we helped a family move from Canada to the US

The situation

A successful entrepreneurial, third-generation family where the family patriarch (G1) is resident in the Middle East. His adult son (G2) is a Canadian citizen and resident who is looking to relocate to the US with his spouse and children (G3).

The client’s goals

• Relocate to the US as a family for education, lifestyle and business opportunities.
• Conduct a strategic review of his family’s international footprint and structures to identify ways of simplifying them and ensuring compatibility with the US.
• Start considering succession planning and preparing the next generation to enable a successful intergenerational transfer of family wealth.

Our approach

• We reviewed the family’s existing structures and recommended winding down an existing “granny” trust in favour of a foreign grantor trust settled by the family patriarch. 
• Our Legal and Fiduciary teams devised appropriate structures ahead of the family’s move to the US to maximise global tax efficiency and the long-term objectives of the family. 
• We introduced them to a Canadian Family Office team member, who advised the family on the legal and tax aspects of their departure, as well as an external US immigration lawyer to assist with the family’s visa requirements.

Outcomes to date

• Our Family Office teams supported the family with all the pre-arrival and relocation logistics and helped draft domestic wills. We set up US bank accounts, helped coordinate credit facilities, arranged introductions to third-party insurance professionals for medical and property insurance and helped the family acquire a new property. They remain on-hand for administration and operational support and servicing, including annual income tax compliance.
• Our Family Office teams established and act as fiduciaries and trustees for a US inter vivos for G2’s wife and children and of a foreign grantor trust for G2. 
• Our Fiduciary team uses our treasury platform in Jersey for liquidity management and our investment management team in Switzerland provides active investment management to the Jersey trust. 
• We are helping to educate the children on wealth management and the family’s financial values.
• Our Tax Services team manages and monitors ongoing tax compliance and filings for the family.

Disclosure: Case studies are provided for illustrative purposes only and are based on real client or former client engagement. Some scenarios may reflect client experiences or work originally performed by a firm that has since been acquired. All client names, identifying details and contextual elements have been anonymised to protect client confidentiality. The outcomes described reflect the experience of a particular client. Results are not guaranteed and may vary based on each client’s individual circumstances, market conditions, regulatory requirements and specific financial objectives. Past performance is not indicative of future results. 

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