Even after you have taken all the correct steps you needed in order to set up your will and trusts, you might still be concerned that your wishes will not be carried out the way you want them to be.
Even if you have someone who you know and trust, there are certain circumstances that could get in the way. You could find that they are not as trustworthy as you thought, they could pass away, or the laws surrounding estates may change. What you need is a third party that could be known as a trust protector.
With the laws constantly changing and evolving, you want to make sure that you are able to pass on your valuables and assets to whomever you choose. Once you have set them up, you can’t change them. However, a trust protector could tweak them for you so that they would keep in accordance with new laws.
Not only this, but if there was a dispute over anything in the trust, then the trust protector could make changes without having to go to court. On your behalf, the trust protector could change your trust to maximize tax benefits along with other important decisions, depending on the changes that need to be made.
Within the trust however, you would need to outline exactly what a trust protector would and would not be allowed to do.
It would be a smart move to appoint a third person party to handle protecting your trusts and making sure that your wishes are granted. Contact First Anguilla Trust today.
There are a multitude of entrepreneurs today seeking business relationships with well-established regulated offshore territories to supply their ecommerce needs. Smart, successful entrepreneurs and CEO’s know that establishing financial partnerships with companies that are carefully chosen, lightly regulated, and reside in low tax offshore districts; puts them ahead of their onshore counterparts when it comes to ecommerce business solutions.
Besides gaining significant tax savings, many offshore companies have chosen to work under favorable regulatory frameworks; knowing that the industry of ecommerce will unfold gradually without placing premature restraints upon its workings. The ecommerce industry will ultimately be molded into the type of industry its clients need most. Placing stringent regulations on a fledgling industry could stifle its growth.
Businesses also benefits from low cost regulatory compliance costs, which are substantially reduced from the cost of doing business onshore. This major advantage frees up resources and gives companies the ability to have personnel that are able to focus on the quality and marketing of its products and services.
Main Points When Considering Offshore Ecommerce Solutions:
–Seek contacts that are able to provide complete offshore ecommerce solutions. Ideally they should be able to work across multiple jurisdictions.
–A tax and regulatory corporate structure should be established.
–The chosen ecommerce company should be managed and controlled offshore as well.
–Payment solutions and e-merchant bank accounts should also be set-up offshore.
–Also seek offshore business website hosting.
If an e-company wants to be regarded as “offshore”, their payment solutions and banking must be managed offshore. Many offshore banks are offering competitive rates along with cutting-edge services to make the process even more advantageous.
After solidifying ecommerce solutions with an offshore company, the long list of benefits and rewards can be enjoyed.
Over the years, large companies have enjoyed all the benefits they reap from having their own captive insurance companies. Generally these are used when insurance was not available, or was unreasonably priced. Depending on the nature of the company, sometimes other companies are not willing to insure you due to risks you might be taking. But not only are there risk management benefits, but there are also tax advantages.
In more recent years, smaller companies have come to learn they can benefit from captive insurance companies, as well. Here are some of the benefits that a well managed captive insurance company can provide:
- The parent company receives a tax deduction for the insurance premium paid to the captive
- Other tax saving opportunities, including gift and estate tax savings for shareholders and income tax savings for the parent and the captive
- The opportunity to accumulate wealth from a tax-favored vehicle
- Favorable income tax rates for the distributions to captive owners
- Asset protection from claims of business and any personal creditors
- Lowered insurance premiums presently paid by the company
- Accessibility to the lower-cost reinsurance market
- Insuring risks that would otherwise be uninsurable
Before you get too excited about being covered, keep in mind that some companies forget that captives need to run as a true insurance company. It is best to have a capable captive management company on your side in order to make sure that everything goes smoothly. If you are in need of a Captive Insurance Company, contact First Anguilla Trust and we can help all of your insurance needs.