PBH / Colombia / Start Forums▼ (active) Travelguide Cheap hostels Pictures

saving money

OK , so I have a beautiful baby girl of about one year. I'd really like to start saving some money for her education..... I'm not to hot on a bank account in Colombia and the potential problems an account of any size could present. Eventually I'd like to sack away enough to buy a rental property for her. A bank account in the States is one option too. However, I have a problem with being taxed 2 times. Once when I make the money and once when I make money on that money. A bank account in Panama is a thought. You're not taxed there on your interest. I'm an very worn out, put up wet, dog of 54 years and take every day as a gift. Once I croak, I don't want it to be hard for my daughter to access her funds.

Any suggestions?

By Lowell on Jan 23, 2007, 16:06 in Friendly Talkzone.

aztec says on Jan 24, 2007, 07:25:

Lowell, better check the laws on... ...inheritance. In Colombia, your wife is entitled to half of your estate upon your death.

Of course I am no Colombian lawyer so I would advise follow up on the situation re. inheritance.

0 funny, 0 helpful.

anonimo says on Jan 27, 2007, 14:54:

Who gets the other half? inheritance. In Colombia, your wife is entitled to half of your estate upon your death.

Who is entitled to the other half?

0 funny, 0 helpful.

kat1 (Moderator) (Trustee board) says on Jan 27, 2007, 15:53:

your kids.

0 funny, 0 helpful.