Foundation

Category: Finance, Personal Finance.

The" offshore foundation" is probably the most misunderstood asset protection vehicle. This is done through a secret letter of wishes which are strictly followed.

Like other offshore vehicles, and offshore foundation is intended to manage funds primarily. The letter of wishes is not a public document. Political instability and continuous wars will not be the downfall of civilized countries. The world has gone tax crazy. Indeed, that over taxation, I propose will be the downfall of the civilized world. There is a breaking point. Taxes always go up and never down.

The individual, needs a solution, however today. In addition to being a strong asset protection structure, an offshore foundation can be used to legally bypass estate taxes in the event of a death. An offshore foundation is the perfect solution. An offshore foundation( in Panama for example) has no ownership. It can however, own a corporation and a bank account which makes it the cornerstone of some of the best asset protection structures in the world today. Legally there is no way to own a foundation.

A foundation is an iron clad way to secure your assets because no court or judge can ever order you to provide funds that a foundation owns. Corporation? That would be an illegal order and courts cannot issue illegal orders. Foundation? The purpose of an offshore corporation, on the other hand, to engage in, is just that business activities. What s the difference? -- There are many differences including the fact that a foundation s purpose is not to engage in" for profit" activities.

The core difference, is that a foundation cannot legally enter into for profit activities. The most secure asset protection structure today is the offshore foundation- offshore corporation package. It can, own a corporation, however, which can in turn operate in a business environment to make money. Unlike onshore trusts, which are commonly used in estate planning, an offshore foundation is strictly enforced by Panama courts. It is common for an onshore trust to be broken for any number of different reasons. In the event of death, family members will not be entering into litigation to try and break the foundation.

If you want your wishes followed to the" letter" then a Panama foundation is your best option. It is not owned by anyone and it does NOT pay tax on any money it manages( as long as it is not derived in Panama) . One benefit that cannot be overlooked is the tax advantage of an offshore foundation.