| Family Trust or Similar Vehicle Advise |
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bradvisor
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 09 Aug 2010
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| Family Trust or Similar Vehicle Advise |
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Hi,
I am new to the financial world and I would like to setup a Family Trust or other vehicle to protest assets and provide flexibility for investment and tax savings. We are looking for advice on financial structure(s) based on our circumstances:
- Current residence is Virginia
- Asset is deeded land and lease of mineral rights in Texas (deed currently in my name)
- royalties are estimated to be significant over the next 5-10 years
- we have 2 minor children
- I am married and wish to have co-ownership
- I want flexibility in how we manage the "trust"
- i want protection of the assets based on personal liabilities, etc.
- want to minimize tax liabilities
Other notes:
- interested in buying/building a house
- want some monthly supplementary income over salaries
- want some monies for some travel/vacations
- may want to start a personal business in the future
I have read some about Family Limited Partnerships, Offshore Trusts, and some other more complicated vehicles over a standard Family Trust. Seems complicated.
Thanks in advance!!!
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Mon Aug 09, 2010 5:48 pm |
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mycarrental
New Member
Cash: $ 1.00
Posts: 5
Joined: 19 Jan 2012
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You are really going to do a good work. I wish you luck for that.For more information and detail I think you should search on internet.
car hire | car rental Singapore
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Wed Feb 01, 2012 1:18 pm |
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coaster
Senior Advisor
Cash: $ 1357.80
Posts: 6686
Joined: 11 Oct 2005
Location: Wisconsin
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| Re: Family Trust or Similar Vehicle Advise |
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quote:
Originally posted by bradvisor
Seems complicated.
Yes, indeed. This is a situation where you need professional advice. Look for an attorney whose practice is in this area.
~Tim~
Eye Candy : Why Whimsy
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Wed Feb 01, 2012 4:50 pm |
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