Trust settlor relocation: what your trustee does when you move

A trust settlor relocation trustee review starts with a simple observation: the trust did not move, but the person who created it did. The trust deed, the assets and the trustee stay where they are, while the settlor's residence, tax position and reporting context change around them. The trustee's task is to make sure the trust file, the governance and the bank arrangements still fit that new reality.

This page describes the work a trustee in Switzerland carries out around a move, whether the settlor is arriving in Switzerland or leaving it. It is general information, not advice: the answers depend on the countries involved, the trust deed and the nature of the assets, and they need an individual analysis.

Why a change of residence matters to the trustee

A settlor's residence is a fact that many other documents rely on. Banks record it in their client files. Reporting regimes such as the automatic exchange of information (AEOI, also called CRS) use it to decide what is reported and to whom. Advisers in each country look at it to judge how the trust is seen locally.

The trustee is the one party that holds the whole picture. As a professional trustee, a Swiss trustee is a financial institution under the FinIA (LEFin), authorised by FINMA and supervised day to day by a supervisory organisation. That regime also shapes what the trustee must record and report, which is why a move is never only a private matter.

What the trustee reviews before the move

The most useful work happens before the move date. A pre-move review usually covers:

• The trust deed. Does it name the settlor's residence anywhere? Does it contain reserved powers that the settlor will still exercise from abroad?
• The roles around the trustee. Who is the protector, who are the beneficiaries, and where do they live? A move by the settlor is often followed by a move of a child or a spouse.
• The assets. Some assets raise local questions once the settlor lives elsewhere: property, shares in a family company, pension rights, digital holdings.
• The file. Identity documents, proof of address, source-of-wealth records and the beneficial-owner picture all need to match the new residence.
• The letter of wishes. If the family situation shifts with the move, the letter of wishes may deserve an update.

Example: a family established in Lausanne is planning to relocate to another European country for the settlor's new role. Before the move, the trustee lists which documents carry the Lausanne address, which advisers must be told, and which decisions the settlor currently takes personally.

Before, during and after the move

The move date is the entry point. Everything the trustee does is anchored to it: what must be done before, what is recorded on the day, and what is checked afterwards.

Notices, reporting and the trustee file

When residence changes, several records have to follow. The trustee typically checks the following areas:

The compliance and reporting duties of a Swiss trustee are set by law and by its supervisor, not by the trust's preferences. A trustee cannot skip a record because the move is inconvenient.

There is also a point about the trustee itself. FINMA states that changes of facts affecting an authorised trustee must be announced in advance to the supervisory organisation. That obligation sits with the trustee, not with you, but it explains why a trustee may ask early about changes to the structure that accompany your move, such as a new co-trustee, a new corporate holding or a change of the people running the trustee's side of the relationship.

Working with advisers in both countries

A trustee is not the settlor's tax adviser, and a good one says so. What the trustee can do is act as the single point that gathers the facts and passes the same version to every adviser. In practice that means:

1. Sending the trust deed and the current asset overview to the advisers in the departure and arrival countries, with your consent.
2. Asking each adviser the questions that concern the trustee's own work, for example what a local authority expects to see in the file.
3. Recording the answers and any decision taken, so that the file stays consistent.

The trustee does not compare the tax systems of the two countries and does not promise a result. Where a question is really about the settlor's personal position, it goes to the adviser, and the trustee adapts the trust administration to the answer.

Governance and banking after the move

Once the move is done, two practical areas usually need attention.

Governance. If the settlor held powers personally, the trustee checks whether they remain workable from a distance and under the new rules. If beneficiaries move too, the way information and distributions reach them may change. A protector abroad may need clearer communication routes. For a wider view of the options, see keeping, changing or adding a trustee when the settlor leaves.

Banking. The trust bank accounts are opened in the trustee's name for the trust. After a move the trustee confirms that the bank holds the right residence information and, where the new location calls for it, discusses with the bank whether the existing set-up is still suitable. Any account in another country follows that country's own rules.

What this service covers and what it does not

The service is a review of the trust before or after a move to or from Switzerland. It covers:

• a review of the trust before the move;
• coordination with advisers in both countries;
• the residence-related questions raised for the trustee;
• adjustments to governance where beneficiaries move;
• the banking set-up for the new location.

It does not replace personal tax or legal advice in either country, it does not compare countries, and it does not give a view on whether a move is advisable. Nor does it guarantee how any authority will treat the trust.

Preparing for the confidential assessment

A confidential assessment helps you establish whether your trust needs a light review or a deeper one. It is useful to bring:

• The trust deed and any amendments
• The current letter of wishes
• A list of the roles: settlor, protector, beneficiaries and their residences
• An overview of the assets and where they are held
• The names of your advisers in each country, if you have them
• The expected move date

The documents checklist is a helpful reference if you also wonder whether the trustee itself should change. If the trust has not been looked at for some time, an independent review can be combined with the move. Terms used here are explained in the glossary entry on the settlor. Fees depend on the structure and are indicated after the confidential assessment.