Expertly Repatriating International Funds

Client Situation:
A client approached Lee with a complex financial challenge: they held significant funds outside of Canada and wanted to repatriate these assets in the most effective and compliant manner. The client was concerned about navigating cross-border regulations, potential tax implications, and ensuring the process was both efficient and secure.

Our Solution:
As the client’s investment advisor, Lee took a holistic approach to ensure their best interests were protected throughout the process. Lee began by thoroughly reviewing the client’s overall financial goals and investment objectives. Recognizing the complexities involved, Lee facilitated introductions to trusted tax planners and cross-border professionals, ensuring the client received specialized guidance on regulatory requirements and tax implications.

Lee worked closely with these professionals to coordinate the timing and method of the fund transfer, always advocating for strategies that would optimize the client’s investments and minimize unnecessary costs. Throughout, Lee remained the client’s main point of contact, providing clear communication, overseeing all moving parts, and ensuring the process aligned with the client’s investment strategy.

Results & Benefits:

• Efficient Repatriation: The client successfully brought their international funds into Canada with minimal administrative burden.
• Tax Optimization: By collaborating with tax experts, the client was able to minimize tax liabilities associated with the transfer.
• Regulatory Compliance: The process was fully compliant with all Canadian and foreign regulations, providing peace of mind.
• Personalized Support: The client benefited from clear communication, step-by-step guidance, and a solution tailored to their unique needs.

Client Testimonial:

“My family has been fortunate in having had Lee Appleton, CFA at CIBC Wood Gundy as our investment Advisor. He and his team at CIBC Wood Gundy demonstrate complete competence and professionalism at all times. Our recent need for a cross border financial transfer was associated with significant investment planning complexity to minimize tax our liability. Lee Appleton was able to provide sophisticated investment analysis for decision making and coordinate effectively with other professionals both within and outside Wood Gundy to optimize our financial situation” ~SC, Surgeon

Transforming a Tax Challenge into a Lasting Family Legacy

Client Situation:

A successful client approached us with concerns about an impending large capital gain that would result in a significant tax bill. The client was understandably anxious about the prospect of paying a substantial sum in taxes and was seeking a strategic solution to manage their financial obligations more effectively.

Our Solution:
Drawing on years of expertise in wealth management, we conducted a thorough review of the client’s financial situation and long-term goals. Recognizing an opportunity to both reduce the immediate tax burden and create lasting value, we recommended the establishment of a family foundation.

By setting up and funding the family foundation, the client was able to make a charitable contribution that significantly reduced their taxable income. This strategic move not only lowered the client’s tax liability by over one million dollars, but also provided a meaningful way for the client and their family to give back to causes they care about.

Results & Benefits:

• Over $1 Million in Tax Savings: Through careful planning and execution, Lee helped the client save more than $1 million in taxes.
• Creation of a Family Foundation: The client established a family foundation, enabling them to support charitable initiatives and instill philanthropic values for generations to come.
• Peace of Mind: With our guidance, the client transformed a stressful financial challenge into an opportunity to build a lasting legacy.