Family Limited Partnerships can be abusive tax-free wealth transfers. How does the family limited partnership work and what are the disadvantages? To discount estate tax valuations of underlying assets used as a tax deferral strategy when gifting to the younger generation. Watch the video on Family Limited Partnership: Disadvantages Like this video? Subscribe to our channel. Family limited partnerships, one such traditional limited partnership,...
Advantages of a Trust Trusts are a powerful tax planning tool but they also have many other uses which are of equal if not greater importance. A properly drafted and managed trust can confer advantages under any or all of the following: Asset protection Trusts can be used very effectively to protect assets. In simple terms, assets transferred to a trust no longer belong to the grantor...
What is a Private Bank? Foreign-Licesed Banks: Class “A”, Class “B”, Class “C” If you have $1million and you have a sphere of influence of $100 million or more, a foreign licensed private bank is practically a license to have your own printing press. A foreign private bank, is nothing more than a corporation, licensed to do banking. The 3 Classes of Private Banks: ...
