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Date: 6 months ago   Category: Law

Fund of inheritance — the new mechanism for wealthy Russians and businessmen


The law according to which since September 1 in Russia it will be possible to create hereditary fund begins to work. To whom can it be useful? Photo: depositphotos.com Is updated in 19:07C on September 1 in Russia it will be possible to create hereditary fund — the relevant law comes into force. From the point of view of the inhabitant having one apartment, the car and giving, hereditary fund both I was, and will remain the alien phenomenon as this institute will appear for effective transfer of big business. The most striking example — the Nobel Foundation. So for what the hereditary fund is necessary? One of developers of the law, the member of the working group on introduction of amendments to the Civil code the doctor of jurisprudence, professor Lidiya Mikheyeva comments: Lidiya Mikheyeva the member of the working group on introduction of amendments to the Civil code, the doctor of jurisprudence, professor "Everything know that within six months after the death of the testator very often, unfortunately, there are bad stories to his property. It is for various reasons lost. Especially it is important for so-called business assets, a share in limited liability companies, stocks of joint-stock companies. All this requires special attention. If the testator like that his business has been continued after his life, he can provide creation of hereditary fund and entrust his management to certain persons. To those friends, companions, relatives to whom he trusts payments from a raspredfond are farther or some other deliveries will be made in full accordance with will conditions. We expect that our notariate will successfully cope with creation of hereditary funds, and on the fact that there will be an opportunity as well to carry out the last will of the testator as it is written in the law now". So far most of the Russian lawyers have very abstract idea as the innovation will work at the territory of the country. So for what it is necessary? The lawyer comments, the expert in the field of the international private law Ekaterina Dukhina:ekaterina Dukhina is a lawyer, the expert "It will be how correct, effective and good to work this institute within the Russian reality in the international private law? It is necessary to wait until passes at least year. For today the main difference with the western funds is that the western fund created during lifetime of the testator begins to work and exist in general already effectively. According to the Russian legislation, registration of such institute will happen after the death of the person who has specified need of creation concerning his property of such hereditary fund in the will. The notary will be forced to find, first, for the people participating in creation that is who will be governing body of beneficiaries whom the testator will specify in the will as a necessary part of determination of this structure. If they refuse, to try to find new. All this within one year from the moment of death. Considering as far as on д

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