Private Clients

Business owners, executives, and other individuals may contemplate a personal or business move or transition to another state or country for numerous reasons—improved quality of life, reduced cost of business, or decreased state taxes.

Moving, however, comes with complex decisions—both personal and financial—that have a major impact on your life, family, and employees. Planning and analyzing goals ahead of a move is critical to your overall success and to avoid unintended financial consequences.

Develop and implement a tailored transition plan that holistically approaches the life changes you seek—and that works to mitigate audit risk, enhance quality of life, and preserve tax and wealth management benefits.

Strategic Guidance for Key Financial Considerations

If you pay sizeable income taxes, your state may make it difficult for you to leave. Explore where to move and why as states tax residents and businesses in different ways—some tax income or capital gains and some have an estate or inheritance tax.

Through thorough reviews, our professionals help you assess your income sources to understand financial implications when relocating.

How Plans Can Help Your Decisions

Through planning, our professionals provide:

• Enhanced understanding of the personal and tax considerations influencing your transition 
• Coordinated plans to help reduce risk arising from the transition
• Tailored, in-depth timelines to plan for your transition
• Long-term impact models for your family, estate, and wealth management plan

Factors to Address

A well-executed residency transition requires a comprehensive review of many factors that impact your decision to move. Evaluate key priorities with insights from our professionals.

Transition Considerations

• Quality-of-life and liquid-asset needs
• Financial implications
• Estate planning: multigenerational and philanthropic
• Cost of doing business
• Potential sale of business or large liquidity event
• Business relocation or expansion

Residency Determination

• Intent
• Physical presence
• Real estate
• Personal property
• Community and social ties
• Individualized considerations

How the Process Works

Residency transition takes time. Rushing the process can lead to missed opportunities or even negate the value of moving entirely.

Our advisors work with you to build a comprehensive plan that finds solutions for potential obstacles and helps achieve your goals.

Hundreds of individuals and executives successfully developed and implement transition plans with guidance from our Private Clients Practice.

Deeply immersed in the nuances of 9,000 state and local tax jurisdictions, our professionals can help you confidently navigate the tax implications of the places you live or conduct business. Unifying the firm’s wealth management and tax-planning services uniquely positions us to understand your needs from a comprehensive perspective and identify the potential impacts of one decision on another.

Our professionals also recognize the many personal implications moving brings. Recommendations are customized to your unique needs, carefully matching individual and financial strategies.