With our International Offshore Bank, you can safely and privately diversify your assets, open multi-currency deposit accounts, trade privately stocks, bonds, mutual funds, CDs, commodities and currencies on markets everywhere, and buy offshore funds and other investment products.
Manage your accounts with our Internet Banking platform, keep your assets safe, take advantage of our Swiss tradition of banking privacy, protect your capital and use all the international banking services of a leading offshore bank.
Learn more about Offshore Banks, Tax Havens, Asset Protection, Private Banks, Financial privacy, Investment diversification, International banking, Safety and security, Tax free banking and Banking Havens in this site.
"Bancoii Offshore bank - not only for millionaires. "
Plan for Incapacity
Who Will Take Care of Things If You Can't?
When you're developing your estate plan, it's important to think about what
needs to happen if you become ill or injured. Who will take care of your
finances? Who
will make decisions about your health care? How will you pay for care on
a long-term basis?
Some common tools used to help meet those particular needs include:
Living will
Living Will
A living will is a document that communicates your intentions regarding the
use of life-sustaining measures in the event of terminal illness. It expresses
what you want to happen but does not give anyone the authority to speak for
you.
Health Care Power of Attorney
A health care power of attorney, also called a durable power of attorney for
health care, is a document that lets you appoint someone to make medical decisions
for you if you are unconscious, mentally incompetent or otherwise unable to
make your own health care decisions. Many states also let you include directives
on with holding or providing life-sustaining care in your health care power
of attorney.
Durable Power of Attorney
A durable power of attorney is a document that lets you legally name another
person to act on your behalf. Some examples of responsibilities performed by
your "agent" or "attorney-in-fact" include:
Revocable Living Trust
When you establish a revocable living trust, you can appoint a successor trustee
to manage trust property in the event that you become ill or injured and
unable to continue managing the property yourself. This may help avoid the
need for a
probate court guardianship.
Long-Term Care Insurance
Unfortunately, Medicare and most health insurances do not cover the costs of
long-term care, whether you receive it at home or in a long-term care facility.
That means if you become ill or injured and need long-term care, you and your
spouse
will most likely bear those costs. Long-term care insurance can help you pay
those expenses. Ask your financial consultant for more information.
Note: Bancoii does not provide legal, accounting or tax-preparation advice.
You should consult your tax and legal advisors for your specific situation.
Wealth clients are increasingly interested in the possibility of mental incapacity
during their life times. Happily, there are now more tools than ever to assist
with such planning. Two of them are the trust account and the joint account.
1. Trust Account
A Trust account is a current or deposit account kept at a bank . and deposited
by someone who makes themselves the trustee for a beneficiary and who controls
it during their lifetime; afterward the balance is payable to the previously
named beneficiary. Sometimes, in the title the word "trustee" or "executor" appears(in
some countries) or which is otherwise clearly designated as a trust account,and
kept solely for money subject to a particular purpose.
Bancoii has a trust account based on the concept of a trust which, will not
only provide customers with discretion and confidentiality, but also a flexible
and useful estate and inheritance planning vehicle. Discretion and confidentiality
are key features that result from having the account opened in the name of
the Bank
that acts as Trustee and that is responsible to hold the funds for the benefit
of the named beneficiaries selected by the depositor (the Settlor).Unlike any
other bank account, upon the Settlor’s death, the designated beneficiary/beneficiaries
of the Bancoii Trust Account will have immediate access to the funds in the
account. As a result, this account is ideal to avoid any formal, lengthy and
cumber some succession procedures.
The trust account is also suitable for incapacity planning, since it may include
instructions relating incapacity of the settler or the beneficiaries.
Unlike a will which is, effectively, a public document, the Trust Account ensures
that upon the Settlor’s death nobody needs to know who the designated
beneficiaries are and how much each beneficiary is entitled to.
Customers can effect deposits and withdraw from the Trust Account and even
change the designated beneficiary at any time without any complexities. Designated
beneficiaries of a Bancoii Trust Account may include the depositor/s himself/themselves,
the surviving spouse, children, grandchildren, parents and grandparents, nephews
and nieces, siblings, partners who jointly settle and charitable institutions.
2. Attorney Trust Account
A special type of Trust Account is the Attorney Trust account is an interest-be
a ring account established by an attorney or law firm, which, in the course
of practicing law,
receives or disburses client funds held for future disbursements to third parties.
This account is for trust funds that are nominal in amount and or that are
on deposit for a short period of time.
In some countries, client’s monies held by an attorney must be deposited
in an Attorney Trust Account, separate from the attorney’s operating
funds.
3. Joint Bank Account
A Joint Bank Account is a common arrangement that people use to allow more
than one person to access money in an account. However, before you decide to
create a Joint Bank Account, it is important that you understand the risks
and consequences
of having a Joint Bank Account. It is important for you to realize that both
you and the other person will be considered joint owners of the money in that
account, regardless of whose money it may actually be.This means that the person
you add on your account as the joint owner has the right to with draw funds
from that account without notifying you. Therefore, if you have a Joint Bank
Account
it is very important that the joint owner of your bank account be someone whom
you trust.
If you decide to create a Joint Bank Account, you may want to talk to our Bank
to see if there are any appropriate safeguards or protections for your account
that might be available.
Another consequence of having a Joint Account you should be aware of is what
happens to the money in the account after one of the joint owners dies: the
money in
a Joint Bank Account will go directly to the other joint owner of the account
and not to the people named in your will or heirs. Some people consider this
an advantage of having a Joint Bank Account since the money will not have to
go through procedures in Probate Court.
However, this may be an unintended
consequence if what you really wanted was to have the cash included in your
estate and shared
with other people who are not named on the Joint Bank Account.
