Exempt property

The following property is, for all purposes, exempt property which is not available to satisfy any legal processInternational Foundations [CAP. 24:02 61 (a) life insurance policy or annuity contract held, directly or indirectly, by or for the benefit of a foundation, a founder or a beneficiary, including its assets and the proceeds from it; (b) any residence located within Belize or elsewhere, including its contents or the proceeds of the sale of the residence or its (c) any part of the foundation endowment used for the support, health, welfare, benefit or education of a minor or a partially or wholly disabled individual until– (i) the minor reaches the age of eighteen years, or the disabled individual is no longer disabled, or (ii) the has authorised the continuation of the payments after the minor has reached the age of eighteen or after the individual is no longer disabled; and (d) any part of the foundation endowment used or to be used exclusively for a charitable purpose within the meaning of section 12.