When dealing with cross border planning, James Sheldon, CEO and managing director of Toronto-based Cardinal Point Wealth Management Inc., provides all clients with a departure checklist — for Canada or the U.S., depending on the move. Providing such a list reassures clients that relocating can be a seamless transition.

“We act as a personal chief financial officer for our clients and all of the problems and tribulations they have we have to deal with,” says Sheldon. “We become the focal point of their team and use all of their other experts that are required to make the transition successful.”

The departure checklist provides clients with a complete rundown of what they need to accomplish before the move. Sheldon refers to it as a “hand-holding process.” The list includes establishing residency in the country in which they are relocating; retirement services; tax issues; wills and estate planning; what to do with current bank accounts and how much money should be left in existing accounts; obtaining health coverage; information on investments; and information regarding such issues as drivers licences and legal documents.

— CLARE O’HARA