Trusts and Foundations
Setting up a trust or foundation for our clients is one of the core services provided by Constance Grimaud SA. Trusts and foundations share some important features but are subject to different legal frameworks. Trusts fall under common law while foundations are governed by civil law, in accordance with the respective place of jurisdiction. Our experts will analyse your specific need and advise you on the best choice for your requirements.
Trusts are constituted by a simple written act, defining in detail all the requirements and expectations of a settlor. Upon validation of the trust agreement, the settlor will transfer both assets and ownership to a trustee. The trustee is designated and empowered by the settlor and acts on behalf of the trust. The settlor defines the beneficiaries and their stake and entitlement to the assets of the trust. We will help the settlor in this task of setting up such a trust agreement and of installing a protector in a bid to coordinate and control the work of the trustee.
A foundation by contrast is constituted through a deed. The client will be asked to select a board that will administer and coordinate the activities of his foundation. A foundation is a legal entity governed by civil law and is listed in the commercial register of the canton of domicile.
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