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Old 21.03.2011, 19:06
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indefinite move to switz. and legal affairs in your home country

my family and i are moving to switzerland "indefinitely" early this summer. the chances of staying long term are increased by the fact that the job opportunity is long term, he is swiss, and we have an established network and friends and family in switzerland for many years now.

as i'm reading through the "preparing for your move" materials, it seems like a lot of the "to do" items assume you'll move back to your home country.

for example, is there a reason why i need to maintain a safe deposit box in the U.S. with important legal documents? why would i want a power of attorney in the u.s. if i don't own anything here? might keep a bank account or two open just for ease of online purchasing.

i'm inclined not to do these things, but could easily be swayed if someone had an example of a situation where i would regret it.

thank you!
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Old 21.03.2011, 19:49
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Re: indefinite move to switz. and legal affairs in your home country

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my family and i are moving to switzerland "indefinitely" early this summer. the chances of staying long term are increased by the fact that the job opportunity is long term, he is swiss, and we have an established network and friends and family in switzerland for many years now.

as i'm reading through the "preparing for your move" materials, it seems like a lot of the "to do" items assume you'll move back to your home country.

for example, is there a reason why i need to maintain a safe deposit box in the U.S. with important legal documents? why would i want a power of attorney in the u.s. if i don't own anything here? might keep a bank account or two open just for ease of online purchasing.

i'm inclined not to do these things, but could easily be swayed if someone had an example of a situation where i would regret it.

thank you!
If you are leaving no property behind, then no, you don't need to do anything, just move (I did).

Tom
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Old 21.03.2011, 20:30
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Re: indefinite move to switz. and legal affairs in your home country

The only thing that really counts is: For Pete's sake, bring brown sugar!
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Old 21.03.2011, 20:34
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Re: indefinite move to switz. and legal affairs in your home country

Sometimes it could be very useful to have someone you TRUST with your Power of Attorney, to handle stuff for you. I did that with my sister in SA .. and it is amazing how, over the years, things turn up that would have meant a loooooooong boring (and expensive) plane trip, to sort out.
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Old 21.03.2011, 20:53
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Re: indefinite move to switz. and legal affairs in your home country

US citizens, have lived in CH for 13 years, doG knows where we will end up.

We maintain bank and brokerage accounts in the US, keep a few US credit cards, as well as keep a relationship with our attorney.

The bank and brokerage accounts are because, as US citizens living overseas with all the fol-de-rol that involves, it is just easier to do some of our investing that way.

The bank account is largely used to pay our US taxes. Writing that check is painful enough - I don't want to have exchange rate issues to boot.

Also, with family in the US we have financial obligations - it's easier to keep US accounts than continually transfering from a Swiss account. You never know what life will throw your way - when we left we were pretty much footloose and fancy-free, we did not have the responsibilities we do now. Glad we kept those accounts, as opening new ones as oversease citizens in today's climate might have proved difficult.

Having our US lawyer on hand has been a god-send; while he does not have a blanket power of attorney, we have given him a limited power of attorney several times in order to deal with things that otherwise might have been difficult to handle from abroad.

And, as we are not Swiss citizens, we have felt it best to invoke Heimatrecht in dealing with our wills - our US attorney is the executor.

We've gone from thinking we'd only be in CH for 1-2 years, to intending to live here forever, to 'should I stay or should I go?' several times over the last 13 years. Right now, I doubt we will retire here, that could change. But as life is always uncertain, I'm glad we have kept options open.
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Old 22.03.2011, 02:36
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Re: indefinite move to switz. and legal affairs in your home country

thank you for the insight. i always have trouble with the whole POA bit because there's no one i really trust with that level of authority in my life. it's not that i think they'll screw me over or anything like that, but it's a lot of responsibility (potentially) to lay on someone.

i'll think over our options some more.
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Old 22.03.2011, 11:05
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Re: indefinite move to switz. and legal affairs in your home country

I'm pretty much in agreement with what meloncollie said above, although because we've decided to stay here through retirement, we have kept the bare minimum in the US.

We will do US-style wills - I meant to do that last year when I was in the US, but will do it this autumn. We keep a single bank account with a credit card so that we can pay US bills when needed and also have access to US funds when we're in the US.
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