When and why is it needed?
The business in the post-soviet countries is usually threatened to be withdrawn or seized under cover of “pseudo legal” instruments. The legal protection of property in courts of Russia, the Ukraine, Belarus, Kazakhstan may take quite a long time and eventually do not have any effect. So, it is better to provide additional protection to your business by using foreign law instruments
This right provides an opportunity to set hereditary matters in such a way that the business management would be separated from the inheritance.
Trusts are convenient and effective instruments both for the protection of property from seizure, and for the property planning and descent of property.
How it is made?
Before setting the Trust owner’s preferences and tasks shall be revealed and also special features of establishment and functioning of trust shall be explained.
Then the detailed questionnaire shall be completed. And on the basis of this questionnaire the trust are drafted.
The most important and long-lasting stage is the concordance of documents about the establishment of trusts.
What is the result?
You get an effective instrument of assets protection and property planning.
The possibility of seizure of your property essentially reduces or becomes unreal. You get the right to independently determine the shares and the priority of heritage for some property.
The institute of trust in England arised and developed as a response to the shortcomings of common law and traditional legal procedure. And for many centuries this institute has been a convenient mechanism both for protection of assets from seizure and for hereditary planning.
As the institute of trust is not recognized in all countries the scope of its application is limited but not thus much that it couldn’t be used for the protection of property owned by citizens of Russia, Kazakhstan, the Ukraine and so on.
For the reliable protection of trust property it’s crucial to observe the formalities that may seem even strange and carefully determine the aims to be achieved. This can be done only by filling the questionnaire that can reveal goals of trust and detail the procedure of its use.