Better to store Wealth (cash, securities) under your Personal or Corporate account?

[mike400]

Golden Fleece said:
Such structures are not appropriate for everyone, but if you have your entire €200M+ wealth in a few personal accounts then you are acting like an imbecile and you need the help of a professional for no other than estate planning purposes. Using the right structures can mean the difference between the government obtaining more than half your wealth when you die versus the government nothing or very little. Some strategies can reduce or eliminate the death tax burden completely. The same goes for asset protection against predatory lawsuits that could wipe out a substantial portion of your wealth.
Click to expand...

What structure is best for estate planing?
BTW, some countries have 0 estate tax, so this guy with €200M+ wealth in a personal accounts is not necessarily retarded 🙂

 

[mike400]

If I want to transfer larger amount of funds from UAE bank account to Interactive Brokers, is it better (in terms of compliance asking less questions) to:

1. Send from corporate bank account to corporate IB account
2. Send from corporate bank account to personal (as salary/dividends) and then send from personal account to personal IB
3. Or it doesn't matter?

 

[Golden Fleece]

mike400 said:
What structure is best for estate planing?
Click to expand...

That is like asking a complete stranger what automobile is best for me. It is highly fact specific.

You want input from a professional who can provide an objective analysis (meaning that he is not going to recommend a Nevis trust or a Panamanian foundation just because he only sells a Nevis trust or a Panamanian foundation). That happens a great deal in the offshore world.

In the U.S., a will and a living trust may suffice. It depends on your country and your specific facts.
https://www.nestmann.com/what-larry-king-and-prince-had-in-common

 

[desfo2000]

mike400 said:
What structure is best for estate planing?
BTW, some countries have 0 estate tax, so this guy with €200M+ wealth in a personal accounts is not necessarily retarded 🙂
Click to expand...

Madrid in Spain and Italy generally speaking are G7 countries where you can achieve that (well, Spain is more G8 or G9 than G7 for now 🙂 )

 

[EliasIT]

You should never mix personal accounts with business accounts; it only leads to trouble with the tax authorities in the end. I had to learn this the hard way, with bitter consequences and very expensive accountant and lawyer bills!

Avoid mixing the two at all costs.

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[yehavo]

EliasIT said:
You should never mix personal accounts with business accounts; it only leads to trouble with the tax authorities in the end. I had to learn this the hard way, with bitter consequences and very expensive accountant and lawyer bills!

Avoid mixing the two at all costs.
Click to expand...

maybe explain with a case? thanks

 

[EliasIT]

You can check some of my posts, have posted about a personal case already! We are a few guys who got raped by the tax office already.

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.