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Many people do not understand the "offshore foundation". Like other offshore vehicles, and offshore foundation is intended to manage funds primarily. This is done through a secret letter of wishes which are strictly followed. The letter of wishes is not a public document. Taxes never decrease and never end. Even death is now a taxable event. To protect oneself, many people are turning to legal alternatives. An offshore foundation, in particular, a Panama foundation is the most secure alternative. An offshore foundation, in addition to being a rock solid asset protection vehicle, is able to pass on assets according to the secret letter of wishes, bypassing the tax laws (legally). An offshore foundation (in Panama for example) has no ownership. Legally there is no way to own a foundation. 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. One of the greatest features of an offshore foundation is that a judge or court cannot order funds to be repatriated because a foundation is not owned by anyone. The order would be illegal and no judge would make an illegal order, and if he did, it would easily be overturned. Corporation? Foundation? 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 purpose of an offshore corporation, on the other hand, is just that, to engage in business activities. The core difference, is that a foundation cannot legally enter into for profit activities. It can, however, own a corporation, which can in turn operate in a business environment to make money. The most secure asset protection structure today is the offshore foundation - offshore corporation package. All too often, the death of a family member causes rifts and fights among family members. These fights take place in the courts as family members try to invalidate your wishes through some technicality, and overturn your onshore trust. An offshore foundation, however, is strictly enforced by Panama courts, which will not put up with silly legal challenges, often used onshore. Time and again, the offshore foundation has proved impossible to overturn and thus prevents family feuds from starting over your assets. Foundations do not pay tax on funds generated outside of Panama. This makes a foundaton a great part of any tax planning strategy.
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If you considering an Asset Protection structure you may want to read more about the Panama Offshore Foundlocated ation located at www.offshorelegal.org Click here to get your own unique version of this article.
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