Who uses a PIF, and why?
Most people who use a PIF are business owners, executives, and the well-to-do, however, anyone who wants to avoid probate, make their estates more secure, and to minimize taxes. The purpose for creating Foundations of Private Interest was for protecting private family estates, controlling a Self-Directed Individual Retirement Account (IRA), eliminating probate, and reducing taxes. When you read the provisions of the Panamanian law, you will see how well a PIF can protect the estates of the wealthy, and the same protection is available for you to use for your own family.
