||Efficient legal means to protect the family estate.
||Simple, Fast and succession instrument.
||A legal resource that is private, discreet and confidential, even with regard to family members.
||Minimizes taxation. Family Foundations are not subject to income or inheritance taxes in Liechtenstein or Switzerland.
||May be modified at any time by the Trust founder.
A Family Foundation is a flexible and efficient Trust Fund designed to ensure and protect the family estate while the Founder is still alive. In time, it will serve as an efficient succession mechanism to transfer the family wealth to the next generation (the “Beneficiaries”), when the Founder passes away.
Family Foundations can be established as legal entities to provide for the wellbeing and future needs of designated heirs, including:
- Establishing education requirements.
- Protection against current and future medical conditions.
- Financial protection for children, elders, and physically challenged family members.
At StateTrust International Bank & Trust, LLC. Family Foundation services involves:
- Advisory services for the establishment of Family Foundations. Two choices of jurisdictions are available: Liechtenstein or Panama.
- Advisory services for writing the Regulations that specifies the “Wish List” of the Founder on behalf of its selected Beneficiaries.
- Manage the Foundation assets passed to it.
- Manage the succession part of the Family Foundation closely adhering to the Founder wishes incorporated in the Articles of Incorporation on behalf of the designated Beneficiaries.
The Benefits of a Family Foundation are:
- Flexibility: The Founder has ample flexibility with regards to changing beneficiaries, wishes, Directors. The Founder could even be a Beneficiary.
- Confidentiality: The Family Foundation is a separate legal vehicle not open to public or even family members. This permits a Founder to establish his succession in any way or form he or she wishes.
- Speed:Should the Founder pass away, the Assets of the Family Foundation can be passed to the Beneficiary as the Founder wishes without requiring probate or delays typically associated with wills.
- Tax Minimization: The Family Foundation is an efficient vehicle to reduce or eliminate taxes.
* These services offered through affiliates of the Bank specialized in these areas.