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Sulyk Roman

Head of family law practice

Expert in the field of family, civil, labor law, intellectual property law

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Sulyk Roman
Head of family law practice

Expert in the field of family, civil, labor law, intellectual property law

Contact now

If you need help with setting up a trust or fund, we will be happy to help you with this folding and legal assistance! Establishing funds and trusts for family asset management is an important element of succession planning. This allows for the effective management of hereditary property and their transfer to descendants. In this article, we’ll look at succession planning criteria, options for optimizing estate inheritance, and the process of setting up a family wealth management fund or trust.

What criteria to consider when planning inheritance?

Before proceeding with succession planning, there are several criteria to consider:

  • The first criterion is the provision of adequate legal protection.
  • The second criterion is the optimization of tax payments.
  • The third criterion is the preservation of wealth and its transfer to the next generations.
  • The fourth criterion is to ensure the stability of the financial situation in the family.
  • The fifth criterion is the degree of relationship between the testator and the heir.
  • The sixth criterion is the total value of the objects of inheritance.
  • The seventh criterion is the nature of the objects of inheritance (cash, immovable or movable property).
  • With their help, you can effectively plan the inheritance of future property from the testator.

Створення фондів і трастів

What are the options for optimizing the inheritance of property?

There are several ways to optimize property inheritance. One of them is the creation of an inheritance fund or trust. This method allows you to protect assets from claims of creditors and risks associated with the activities of the heir, as well as reduce tax payments.

Another way is through the use of financial instruments such as life insurance, pension plans and other investment vehicles.

What is the process for setting up a family wealth management fund or trust?

To set up a foundation or trust for inheritance and family asset management, you first need to:

  • Determine the purpose and purposes of establishing a foundation or trust. For example, it can be providing financial support to the family, preserving family heritage, determining asset management rules, passing on inheritance to the next generations, and others.
  • Determine the form of a foundation or trust. This can be a foundation with or without activity, a private trust, a trust, or another form that suits your needs and goals.
  • Determine the composition and responsibilities of the participants in the fund or trust, such as the governing body, beneficiaries, donors, and others. You must also establish decision rules and procedures for appointing new members.
  • Consider legal and financial aspects when setting up a foundation or trust. This may include opening a bank account, registering and filing with the relevant regulatory authority, reviewing tax requirements, and developing an investment strategy.
  • Consider fund or trust funding. You can raise funds from family members, contributions from donations from charities, and investments in assets owned by a foundation or trust.

In addition, it must be borne in mind that a fund or trust is a trust management of assets, and their activities are subject to different legal and regulatory requirements. For example, there are legal requirements for record keeping, record keeping, and other provisions that a foundation or trust must comply with.

In the event that you need to provide family asset management, a foundation or trust is an effective tool to achieve this. With their help, you can manage assets such as real estate, securities, money, etc. You can also transfer ownership of assets to the next generations in the form of an inheritance in accordance with your desires and plans.

Consequently, setting up a foundation or trust is a complex process, so you may need legal assistance to ensure that your foundation or trust is properly formed and registered. Therefore, if you have any questions, it is better to contact qualified lawyers.

Such lawyers are the Prikhodko and Partners Law Office, which provides comprehensive legal services for the creation and management of funds and trusts. They will help you set up a foundation or trust, develop the necessary documentation, and arrange for it to be registered. As well as advice on taxation and asset management.

Contact the law office “Prikhodko and Partners” if you need help in creating a trust or fund, we will be happy to help you in this difficult and responsible business!

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