TRUST FUNDS
Our law firm provides comprehensive legal advisory services to clients in the field of trust funds, including both the establishment and subsequent administration of trust funds, as well as all related consulting and advisory activities concerning trust funds.
WHAT IS A TRUST FUND?
A trust fund is a pool of assets without legal personality, which the settlor has separated from their exclusive property and entrusted to a trustee for management. Once the assets are allocated in this manner, they cease to be owned by the settlor or the contributor, becoming anonymous assets (known as independent ownership). During the existence of the trust fund, the trustee exercises ownership rights over the assets in the trust fund, with the duty to manage these assets properly.
The essence of a trust fund lies in the management of assets by the trustee to achieve the purpose of the trust fund.
WHAT PURPOSES CAN A TRUST FUND BE ESTABLISHED FOR?
A trust fund can be established for various purposes, whether public benefit or purely private.
IT CAN PARTICULARLY BE USED AS:
• A tool to protect family or business assets (e.g., protecting family assets in case of a complex family structure, from undesired heirs, or to ensure succession in business, etc.)
• For secure and stable structuring of future asset transfers within the family, etc.
WHAT TO DO IF YOU WANT TO ESTABLISH A TRUST FUND?
Firstly, it is essential to arrange a personal meeting with us, during which we will explain in detail the conditions for establishing a trust fund and jointly determine whether and which trust fund is suitable and beneficial for you. Subsequently, if we agree on establishing a trust fund, we will prepare the founding documentation for you. Upon mutual approval of such founding documentation, we will then arrange an appointment with a notary, who will make a notarial record of the trust fund's establishment and subsequently register it in the register of trust funds. Upon registration in the register of trust funds, the trust fund comes into existence.