Moving Abroad With Kids: The Family Money Checklist

Moving abroad with children multiplies everything — the paperwork, the emotions, and the money questions. It also multiplies the upside: families often save more than any other household type. Here’s the money side, organised.

Education: the budget line that swings the most

• Public schools in your new country are typically free and, in much of Europe, excellent — the full-immersion route that costs nothing but courage.
• International schools preserve curriculum continuity at a price: commonly €8,000–25,000+ per child per year depending on city and school. For two kids, this single decision can outweigh every other saving of the move.
• 529 plans: generally keep them — they grow tax-deferred (US-side) and many foreign universities are actually on the eligible institutions list. But your new country may not respect the wrapper’s tax treatment, and new contributions from abroad deserve a think. Classic cross-border advice territory (Advisor Matching).
• The European university plot twist: if your family stays, university in Europe can cost a fraction of US tuition — potentially the single largest financial win of the entire move.

Healthcare: usually the family’s biggest saving

Family health coverage is where US costs are cruelest and European systems shine. Visa-compliant private family policies typically cost a fraction of unsubsidised US family premiums, and residency usually brings public system access for children quickly (the three layers). Budget honestly for the transition weeks — kids have a talent for needing a doctor mid-move (bridge cover).

The kids’ own money

• Custodial accounts (UTMA/UGMA) face the same expat-brokerage question as your accounts — confirm policies before the move (brokerage guide).
• Your US-citizen kids are… US taxpayers. Their future foreign accounts can eventually trigger FBAR; investments in local funds would hit the same PFIC wall yours would. Small stakes now; worth knowing before opening the cute local savings account.
• Child benefits abroad: several European countries pay meaningful monthly child allowances to resident families — check your destination’s rules; it’s real money.

Protection and paperwork

• Life insurance sized for the new plan — international school fees change the coverage math (the expat life insurance guide).
• Guardianship across borders: your will’s guardianship provisions need to work in two legal systems — a must-do item in cross-border estate planning.
• The family emergency pack: if something happens to the parents, can anyone find the accounts, policies and instructions? This is exactly the Emergency Information Pack.

Budgeting the family move

Run the numbers per scenario, not per Pinterest: public vs international school changes everything else. Our free calculator gives the base picture; the school decision layers on top. And build a fatter transition buffer than a couple would — families burn more cash in the messy first 90 days.

This article is general information, not financial, tax or legal advice. Rules on schooling, benefits and accounts vary by country — verify locally.