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FOUNDATION OF PRIVATE INTEREST |
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Established by law as an asset protection tool, which can be used: - Protection of assets in general.
- Protection, distribution and planning of family assets.
- As a living will.
- Protection against creditors.
- Tax planning.
Founder may, in turn, be the beneficiary of the foundation or designate other beneficiaries for whom the assets are to be administered and/or transferred according to the Founder’s whishes. Beneficiaries are designated thru private documents, thus enhancing and assuring the highest levels of confidentiality. Transfer of properties or assets made to beneficiaries by the Foundation are exempt from taxes, so long as they ascendants or descent to the first degree of consanguinity (father, mother, sons, daughters) or spouse of the Founder. Costs and Legal Fees Basic foundation procedure, including expenses and legal fees may run anywhere from US850.00 to US 1500.00, depending on the client’s needs.
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