Estate (Caphiria): Difference between revisions
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===Estate Fund=== | ===Estate Fund=== | ||
Because Estates exist as a separate legal entity, it is possible to transfer assets and equity to and from an Estate. This is known as ''Collatio'' ''Praedium'' (estate asset bestowal) and is extremely similar to how a discretionary trust functions. The head of the Estate is legally the sole trustee of the ''Estate Fund'' with members of the Estate being equal beneficiaries. Estate Funds have many advantages besides tax savings, such as: | Because Estates exist as a separate legal entity, it is possible to transfer assets and equity to and from an Estate. This is known as ''Collatio'' ''Praedium'' (estate asset bestowal) and is extremely similar to how a {{wpl|discretionary trust}} functions. The head of the Estate is legally the sole trustee of the ''Estate Fund'' with members of the Estate being equal beneficiaries. Estate Funds have many advantages besides tax savings, such as: | ||
*to protect improvident members against creditors – as members have no claim to any specific part of the estate fund, none of the trust fund is vulnerable to attachment by the trustee in bankruptcy of any beneficiary | *to protect improvident members against creditors – as members have no claim to any specific part of the estate fund, none of the trust fund is vulnerable to attachment by the trustee in bankruptcy of any beneficiary | ||
*to exercise control over young or improvident members | *to exercise control over young or improvident members | ||
*to create flexibility to react to changes in circumstances | *to create flexibility to react to changes in circumstances | ||
*to protect family assets from forming part of any | *to protect family assets from forming part of any {{wpl|divorce}} settlement. | ||
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