There are 15 replies in this Thread which was already clicked 201 times. The last Post () by UK Man.

Is it possible to set up a trust in Argentina for minor neices and make someone else the trustee, other than father?

  • The mother of 2 children died, and if the assets of their mother is managed by their father, he will spend everything.

    The children are living in another country but their mother was part owner in some real estate, we want to figure out a way in Argentina if possible to designate someone else as their trustee so that they will have assets when they are older.

  • It's far worse than I stated, we believe she was killed, but her death is still under investigation..

    I suspect even if such a thing is possible it definitely won't be easy. As Rice says best to consult an expert as Argentine inheritance laws are a mine field...and a costly one at that.

    I posted here because I got great advice in the past, some I didn't get even from lawyers I paid in Buenos Aires. Just thought I'd pick some brains! In the USA you can set a trustee, it can be anyone you want. So just asking!

    Edited once, last by Icyman: Merged a post created by Icyman into this post. ().

  • I can only compare the inheritance laws here to those in the UK. If the deceased here hasn't made an official will before their death then all next of kin can claim their share. A large amount of tax will have to be paid as well I believe.

    I'm no expert though.

  • Nobody makes wills here, or at least very rarely.

    Inheritance passes to next of kin, so presumably to the husband first and then the children, unless the lady made any separate arrangements.

    That's info from my wife who is a public accountant and sometimes deals in matters such as this.

    Yes it's a strange setup. My wife had a heck of a job sorting out some of her mothers financial affairs before she passed away....and her mother was a well respected retired notary. It ended up with her having to get the notary to visit the MIL in order get some documents fingerprinted as she wasn't able to sign them. The difference in the amount of taxes to pay had that not been done would have been very significant.

  • Splinter , do you mean a person can’t make his/her own choice about who inherits? That would be awful. What if you hated your next of kin, and wanted to give everything to the animal adoption society? You couldn’t do that?

    No. There is a statutory intestacy and the family prevails.

    You can dispose freely of 1/3rd of your assets, only. Now, if you can do a complex scheme with companies, you can probably move things around a little bit more, but that's a question for Splinter 's wife.

    My husband's grandpa, who had a complicate relationship with his children, wanted to leave his assets to his grandchildren. He could only leave 1/3rd to them, which divided by the number of grandchildren became so little money... not worth the hassle, unless you're a millionaire.

  • My wife has explained it to me a hundred times and I still don't understand how it works all seems so complicated.

    Especially when it comes to property owned by several extended members of a family. The MIL has/had a share in a house that's lain abandoned for years. All because one of the inheritors, a cousin of hers, was being a sillly arse and refused to pay her share of the taxes. Something that's quite common here hence the amount of abandoned buildings about the place.

  • I’m surprised that AFIP hasn’t cottoned onto the IRS policy in the US: they take their tax wherever they can get it. So if one inheritor refused to pay the taxes, they would make the others pay. Otherwise, the government becomes the owner of your property.

    Actually, wouldn’t it be better for the other inheritors to simply pay the taxes (or better, to buy out the tax scofflaw?) than to lose the property to either the tax man or to the ravages of time?