“Kathleen, I am thinking of moving to Panama or Belize after avidly reading your reports.
“There is one thing that does not seem to have been covered (or I have missed it). That is inheritance law.
“Is there any information that I can find on inheritance in both Panama and Belize? That is, do you have a free hand to leave your assets to anyone?
“Your help would be much appreciated.”
–Mike V., United States
Neither Panama nor Belize imposes inheritance tax.
In Panama, a Panama Foundation (similar to a trust) is commonly used to avoid probate. If you’re a U.S. citizen, you should seek legal advice in the United States before setting up a foundation to make sure it’s structured properly and will be treated as a trust in the States.
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