Offshore Estate Planning

The Panamanian Private Interest Foundation can serve as an excellent testamentary (will) vehicle for the distribution of your assets.

The Foundation can carry on scientific, philanthropic, religious, humanitarian or educational purposes.

The Foundation is specifically designed to protect and distribute your assets to your beneficiaries on any specifically-named event (such as your death or incapacity). The initial founding document of the foundation (a Letter of Wishes) can also serve as a living will detailing how the assets are to be distributed upon your death.

According to legal authorities in Panama, the foundation assets would pass to your heirs or other beneficiaries free of probate or estate taxes. These opinions should be discussed with your own legal and tax professionals.

"According to Law No. 25, inheritance laws that apply in the domicile of the Founder or the Beneficiaries, shall not be effective against the Foundation's assets nor may these laws affect the validity or performance of the Foundation's objectives."
www.legalinfo-panama.com

The inheritance is coming from outside of the beneficiary's domestic country, and as such should not be subject to any of the standard taxes and legal procedures. Through the foundation, heirs should receive their inheritance free of probate, gift taxes, estate taxes, inheritance taxes, or legal delays.

Again, consult with your tax professional and ensure you are in conformance with the tax laws of your particular country.

After traveling to Panama and spending several days there meeting with law firms, banks and wealth management companies, Offshore Financial Solutions has established relationships with some of the top law firms in Panama to assist their clients in moving some of their assets offshore and diversifying their holdings in the private, investor friendly jurisdiction of Panama.

You cannot tell a law firm by its website, or, we found, by international phone calls. Only by meeting with these firms in person, looking the lawyers in the eye, were we able to select the ethical and responsible attorneys to whom we refer our clients.