Long-Term Care Planning

Axis Masterclass Teaser : Estate Planning & Asset Protection: The Rise of the Foundation [Video]

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Axis Masterclass Teaser : Estate Planning & Asset Protection: The Rise of the Foundation

At Axis, as part of our thought-leadership initiatives, we engage a lot with our audience to keep them well-informed about the Mauritius IFC. For this week, we invite you to join us for our Live Masterclass on the Mauritius Foundation on Thursday 22 April 2021 at 15.30 (Mauritian time).

Foundations, which derive from foundations of the civil law, are expanding in popularity across the globe in the context of private wealth management. The Foundation specially appeals to High-Net-Worth Individuals (HNWI) who find it to be an ideal structure for succession planning and private wealth management. This is in part because they have legal personality enabling them to hold assets directly for the benefit of persons or purposes whilst allowing the client to continue to have control and influence over how these assets are applied.

Please join us for an exclusive invitation only online masterclass on “Estate Planning & Asset Protection: The Rise of the Foundation”. This masterclass will deep-dive in the following:

• The importance of Succession and Estate planning for HNWIs

• Key succession issues which cannot be overlooked

• Introduction to the Foundation in the context of Succession and Estate planning

• Features and Advantages of the Foundation

• Why consider Foundation over a Trust?

Follow the link below to access the registration portal:

#Axis #Fiduciary #masterclass #educating #foundation #successionplanning #mauritius #privatewealth #trust

Long-Term Care Planning

Estate Planning Mistakes | Putting Your House In Childs Name [Video]

Today we'll be covering some estate planning mistakes way too many people make; putting your house in your child's name. Yes, it will avoid probate, but will open them up to a big world of taxation. When you add your child to the deed of the house, they take on the same cost-basis you have. A cost-basis is defined as, "the original value of an asset for tax purposes, usually the purchase price". So, if you paid $70K for your house 25 years ago, and now it's worth $800K in this wild market we have currently; your child will assume the property upon your death with the cost-basis of $70K. So if they wanted to sell the property at today's value, the $800K, they'd be on the hook to pay tax on $770K. This is an oversimplification, but hopefully you get the drift. On the contrary, if you set things up so they properly inherited the house, their cost-basis would be whatever the house was worth on the date of your death. So if it was worth $800K the day you pass away and your child sold it a little later for $800K; they would owe nothing in taxes.Unfortunately, I can not tell you what the "proper" way of planning your estate is in this video due to everyone having a different set of circumstances. Every state has different laws and you would need to consult with a tax or legal professional on the best way to setup your estate. Estate planning trustsEstate planning willsEstate planning tipsEstate planning basicsEquipment I used for this video:Camera: for Mac: for Windows: Davinci ResolveCheaper Alternatives:Camera: Cell phoneTripod: Balance on a book 🤷🏽‍♂️Editing Software: iMovie or Video Editor for Windows or use your phone.Lighting: The sun 😎

Long-Term Care Planning

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