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Lol nah. The assets are held by a trust. The trust, being a friendly bunch, loan you capital which it gets by liquidating assets, at a rate of 0% with “don’t wo
by madaxe_again 5mo ago
Lol nah. The assets are held by a trust. The trust, being a friendly bunch, loan you capital which it gets by liquidating assets, at a rate of 0% with “don’t worry about it” default terms. You’ll probably pay a management fee for each loan.
You croak, your heirs become the beneficiaries of the trust. Rinse, repeat.
- Manuel_D 5mo agoIn this case, the beneficiaries of the trust pay income tax on the money they receive from the trust.
- madaxe_again 5mo agoYou don’t pay income tax on loans, and the trust exists in a place with no CGT.
- Manuel_D 5mo agoIt doesn't matter where the trust exists, what matters is that the people drawing from the trust pay income taxes on that money.