Advantages Of Florida Land Trust for Jamaican Investors
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These are original documents we\'ve been developing over the past year to educate Realtors, US Investors, Foreign Investors, distressed home owners and Retiring Baby Boomers. You can see the video versions at either facebook.com/celticwindinvestment or on youtube at youtube.com/mikenweston/.
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Advantages Of Florida Land Trust for Jamaican Investors
- 1. Advantages Presenters: Nicola Chin and Michael Belgeri Florida Land Trust The Estate Advantage
- 2. Buying Florida- Easy o U.S. estate tax o Capital Gains tax o Incapacity issues o Complex Florida probate rules o Creditor protection issues
- 3. FS 689.071
- 7. Incapacity
- 9. Disclaimer The preceding information is provided for educational purposes only. For legal opinion please consult an educated, licensed and experienced Attorney. For Financial opinion please consult an educated, licensed and experienced accountant before making any investment asset management decision. Celtic Wind Investment is a Weston Florida Limited Liability Company serving the business intelligence needs of licensed Florida Professionals and Investors. Celtic Wind Investment is an affiliate of the National Association of Realtors Learning Library Project, Real Estate Express, Legal Zoom and the Land Trust Service Corporation. Nicola Chin is the Founder and President. 2883 Executive Parkway, 33331 Facebook.com/CelticWindInvestment
- 10. CUSTOMIZED ASSET PROTECTION SUITE DVD INTRODUCTORY OFFER $24.95 SAVE $175.00 THROUGH JAN 31, 2012 FORMS TEMPLATES FOR FLORIDA LAND TRUST, PERSONAL PROPERTY TRUST, (PDF Format)
Editor's Notes
- Transferring funds to purchase a property is a simple process for Jamaican buyers; however, many foreign investors often overlook the consequences of their purchase. The acquisition of U.S. real estate by Jamaican citizens poses significant issues including but not limited to U.S. estate tax, capital gains tax, incapacity issues, complex Florida probate rules and creditor protection issues. Proper cross-border planning for Jamaican Citizens must address all of these issues. A thorough analysis is required to find the best method.
- We’ve attached the complete Florida Statute for your review.Called the FLORIDA LAND TRUST ACT FS 689.071 is a unique legal entity. This form of ownership is not familiar to most U.S. Lawyers and tax advisors due to the fact that Illinois and Florida are the only states that have a unique specificity, and nearly identical, land trust statute. This form of ownership is so far removed from classic trust law that calling it a trust can be misleading. The ‘land’ trust is very versatile and differs from conventional trusts in many ways.
- A Florida land trust is a legal arrangement whereby the trustee holds legal title to the property, yet all ownership interest in the property lies with the beneficiaries of the trust. The trustee takes action, solely upon the direction of the beneficiaries. Among the numerous list of benefits to holding property in a Florida Land Trust you will find:• The interest of the beneficiaries are Private are not disclosed on Public Records except upon choice, upon sale or upon order of the court.• Protections can be made in cases of disability which negate the usually required guardianship. • It serves as a substitute for a will and provides planning directives for distributing the property upon death.• • It can serve as a substitute for a partnership agreement and outline the various partner’s rights and interest in the property.
- Consider your “will” for a moment. Although a will, valid in Jamaica, will be recognized in Florida, unfortunately the will is not exempt from the costly and time consuming complicated probate process to transfer title in Florida. A Jamaican/Florida Land Trust can be created at the time of purchase and title can be placed in the name of the trust. Should the property owner pass away, (provided title has been placed in the land trust), probate and related expenses will be avoided. Even though the property owner passed away, the land trust continues and the provisions within the trust set forth the order of the contingent beneficiaries (typically the surviving spouse and then the children).
- Unlike owning property in your individual name, the interest of the beneficiaries do not need to be made public in a Jamaican /Florida Land Trust. As a result, third party creditors have significant difficulty constructing the proper legal documentation in order to place a lien or attempting to seize property. Consider too that when your property is in a Land Trust, the value of that property is no longer listed among your personal assets. As a result, if a complaint against you is requested of a personal injury attorney, the attorney’s research will find little asset value to seek out in a law suit. Remember that the Internet is Worldwide, so those parties in Jamaica who would seek you out for legal satisfaction can search Florida’s public records as well as anyone in Florida.
- Another advantage of Jamaican Owned Florida Land Trust is that it not only avoids probate and seeks to marginalize estate tax but it also acts as an excellent tool in the event of incapacity. If the property owner becomes incapacitated mentally or otherwise, provisions are contained within the trust to provide for successor trustee(s) thereby avoiding the timely and costly process of Florida guardianship proceedings.
- You can watch and learn all of the Celtic Wind Marketingware courses here on You Tube for Free. Implementation of the recommendations for asset protection that we have built around the Florida Land Trust Act, the use of Florida Limited Liability Company, and the new Personal Property Trust requires a number of forms that you can download from our web site’s educational portal. As ever we strongly recommend the assistance of an attorney, accountant or Realtor with experience and education in Land Trust Law, business, taxes and, if necessary, immigration.
- MIKE: Celtic Wind Investment is a Weston Florida Limited Liability Company serving the business intelligence needs of licensed Florida Professionals and Investors. Celtic Wind Investment is an affiliate of the National Association of Realtors Learning Library Project, Real Estate Express, Legal Zoom and the Land Trust Service Corporation. Nicola Chin is the Founder and President. Here is Nicola Chin.
- The Celtic Wind Investment Customized “Asset Protection Suite” is available for delivery today. This slide lists the table of contents for your review. Personal Property, Land Trust, Co-Venture and IRS forms are all included. Hours of use training and Power Point presentations are provided for your marketing needs. Our LLC Services and cost information are detailed and each order receives the names addresses and phone number of 500 distressed property owners in your choice of zip codes from Broward, Miami Dade or palm beach counties. Finally with your order you become a registered affiliate of Celtic Wind Investment making you eligible for a $100 referral fee when your referral registers for a Florida Land Trust through Celtic Wind Investment.