Uses of Belize Trust
General uses of Belize Trust are:
- saving on inheritance tax (on death, the inheritance tax, normally assessed on the value of the shares, would generally be eradicated);
- asset protection (assets within trust usually cannot be reached by creditors who might arise as a result of financial difficulties, litigation, divorce proceedings, etc.);
- avoiding probate (by means of a trust, assets can be smoothly passed on to the next generation without the disruption, substantial costs, delays, loss of confidentiality, etc.);
- providing flexibility in the distribution of the client's assets following his/her death;
- lifetime tax savings (during lifetime, substantial income and capital gains tax advantages may result from setting up the trust).
- keeping confidential the beneficial ownership of property or share stock(assets);
- holding assets and/or property for those who cannot hold it for themselves, for example, minors or bankrupts, as well as for those who wish 100% anonymity degree;
- minimizing taxes by passing over income or assets of the client to the Trustee, who may be located in low or no tax jurisdictions;
- protecting property and other assets from legal and political actions that may be taken against the client by transferring legal ownership to the Trustees;
- the Trust, especially operating for several years, has less chances to be legally challenged than a will.