Web Analytics

Advantages of the property trust

//Advantages of the property trust

Advantages of the property trust

beach palmsFollowing upon the earlier article on 16 February regarding the Property Trust, we have received this  interesting viewpoint:

“I am not sure why, but most foreigners think that having to put your property in a trust is a bad thing. Here are some reasons to educate yourself about the protection that trusts give you.

1- Most wealthy people in the developed countries that have the funds to pay lawyers and accountants prefer to hold their assets in trusts.

2- A trust provides you with protection against:

A- A third party trying to put a lien on your proprty (the bank won’t allow it)

B- If someone tries to frame you, kidnapping, threat, etc. they can not touch the property.

C- If the tax department or other government agency (Mexican or foreign) tries to collect money by confiscating your property the bank won’t allow it.

D-  In case of death, the property will go to the beneficieries listed, not to a probate case which will take years to clear the ownership and cost a bundle.

E- The information on ownership of the property is not distributed to all agencies in your home country.

F- On your foreign tax returns you are not obligated to declare ownership of a foreign property that is in a trust since you don’t own it, only when you become the beneficiary.

G- A past ex spouse or their family has no legal rights to a property that is in a trust.

H- Your children who are beneficiaries can not be sued or chased by an ex spouse, or  in laws,  etc. once they become beneficiaries as the property is still in a trust.

I- There are many loopholes in the tax system that will allow you to transfer/donate your ownership of the property without paying capital tax.

J- A better stressless life without worry that someone might be after your property in a corrupt country like Mexico.

And all that for the cost of $500 a year, much less than most insurance policies. “

By | 2014-02-25T13:05:29-06:00 February 25th, 2014|Featured|1 Comment

About the Author:

One Comment

  1. Garth Coen March 2, 2014 at 9:03 am

    I have a huge problem in that we put our “trust” in a bank. I don’t now nor have I ever trusted them. I have no objection to paying a tax in Mexico to improve infrastructure etc. however I do have a problem giving a bank $500 pure profit ti do nothing.

Comments are closed.