On April 17th 2017 the Gibraltar government brought in the Private Foundations Act 2017. Oh woweee you may be thinking who cares if your house is detached or semi detached as long as it stands solid without a risk of subsidence? It is about here I think if that is your thought you’d best get a pencil and take notes, there will be questions I’m sure.
A foundation is a fiscal tool that can have either a philanthropic or estate planning purpose. An example of a philanthropic Foundation would be Bill and Melinda Gates’ foundation which offer charitable donations but at the same time are efficient as the donations to the foundation can be tax deductible. However, a private foundation like the Gibraltar Foundations I’m talking about here, unlike charitable foundations do not solicit any public money. This means it can used to protect your future estate planning for your family or anyone else you feel is worthy of part of your estate.
The details are far too complicated for a simple blog and besides advice should always be sought from experts like those at the Aquarius Trust Group. You can if you want to read more download our brochure on Foundations here. Or if you prefer the personal touch contact Managing Director Oliver Andlaw; email firstname.lastname@example.org or call 00350 200 50418 or Consultant Nick Cruz; email email@example.com or call 00350 200 79423
Enjoy the weekend