Can Offshore Tactics Avoid Capital Gains Taxes?
A subscriber wrote to me saying, One of my main questions concerns capital gains taxes. Many farmers have had property for decades handed down to them by their parents and grandparents, etc. As such the capital gains tax is tremendous, that is, nearly the entire value of the land, etc. is a capital gain! We face such a problem. So far we have been told there is no offshore solution to reduce or eliminate the capital gains tax. Nearly everybody is pointing us towards Charitable Remainder Trusts. There is one Asset Protection/Offshore Trust advisor (Marc Harris) in Panama, an American, who states that it can be done. I told him that we had been told we could not transfer our property into an offshore trust (or) the government would take 30% off the top right then and there. One of his associates emailed a response and stated that this was true, however, there was an easy legal way around that and most “offshore” lawyers weren’t very up-to-date on this method. We don’t like the restrictio
