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In San Marino we can combine both. I have established two family trust accounts in the government bank of San Marino. We need to designate the trustee for both trusts; someone not closely tied with us financially. A US treaty allows for tax-free direct investment in the US by San Marino citizens if done through the government bank." San Marino, is that in the Caribbean islands? How safe is it?"Beau said, "No, it's a city-state surrounded by Italy, like the Vatican. It's very stable, but for us, it's an in-and-out transfer bank to route funds to Lichtenstein or the Caymans. One of your trusts owns a bank in the Caymans, where your off-shore trading is done. If we observe the niceties, it's all very legal under the current US banking and tax codes. As part of First National's stock repurchase, the bank repurchases some of your stock and pays you only your basis, thus no tax gain for you on the repurchase. First National will finance the stock repurchase with funds loaned from your San. We’re supposed to meet Jumbo and some of the guys for dinner.”“Yes, ma’am.”She’d announced our betrothal to the crew in the Tuesday morning safety briefing. I could see disappointment on more than one guy’s face, but for the most part we got wishes of good luck. They decided that a dinner at a local eatery was proper for celebration.You won’t guess which eatery. Yeah, they still remember us. We enjoyed a good meal, a lot of good-natured and sometimes suggestive ribbing.“‘S dangerous,” Jumbo said, “bringing pretty girls on a jobsite. I remember some jobs over in Alabama and Georgia when Susan and Cindy an’ them used to show up. Cindy’s a cutie, but Susan ... wow!”“I’ll pass on your compliments, Jumbo,” Sunny said.“You go right ahead, Sunny. Angus told her not to wiggle when she walked. Said she shut a jobsite down for two hours doin’ that.”Missus Jumbo – Kaci – elbowed him in the ribs. “I come all the way to Arkansas to be with you and find out about Susan?”“You’ve met Susan, honey..
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