Trust & foundation establishment
We can Help you structure your Trust & foundation
Acker Choquette has been involved in trust establishment and estate planning services for more than 20 years. Our extensive experience and our commitment allow us to provide our clients with carefully crafted estate plans that preserve their legacy and protect the future of their families.
Establish your Trust or your foundation in full confidence
Trust
The Amendment Act states that the term “trust” refers to “the legal relationship created, either inter vivos or on death, by a settlor when assets have been placed under the control of a trustee for the benefit of a beneficiary or for a special purpose” and states that a trust will have the following characteristics.
Trusts established by the legal experts at Acker Choquette can be used, amongst other things, for the following purposes :
– Tax Planning
– Estate Planning
– Preserving Family Assets
– Continuing Family Business
– Confidentiality
– Running an Individual’s Business or to own shares in a company
– Charitable and non-charitable purposes
Foundation
Private foundations are nonprofit charitable entities that tend to be created by a single benefactor or at most, a small number of sources.
Usually, private foundations are created by individuals or businesses, and the funds they receive come from a single source (unlike public charities that fundraiser from many different sources).
Private foundations serve charitable needs that may relate to social, educational, or religious causes. These foundations often have a board of director who are in charge of making decisions.
Private foundations are less open to public scrutiny because of their lack of public involvement.
There are various types of Private Foundations:
1. Independent foundation :
An independent foundation receives its support from an endowment that comes from a single source.
2. Family foundation :
Usually, a family foundation is funded by an endowment from one family.
3. Corporate foundation :
This is a philanthropic organization that is financially supported by a corporation and is a separate legal entity from the corporation financing it.
“Trust and foundation preserve legacy and protect the future of families.”
D. Acker
Did you know ?
The Foundation is a complete legal entity, while the trust doesn’t. Thanks to this legal entity aspect, a foundation can be considered as the legal owner of assets placed into the foundation.
It also allows the foundation to exist indefinitely. On the contrary, the Trust can only exist for a certain period of time, or shall have a maximum lifespan.
01
Explanation
During the first discussion we’ll review how a Trust or a Foundation can be valuable to you, your family and your assets. This first discussion is followed by the issuance of a summary stating also the initial documents required to proceed with the analysis.
02
Drafting your solution
Our legal team will establish a solution matching your exact situation in order to protect you, your dear ones and your estate. At that stage, several exchanges between you and our team is necessary in order to collect all required documents.
03
Setup of the Trust or the foundation
Once all documents have been provided by you, we proceed with the creation of the special purposed vehicle for you.
We take care of the registration, and can also assist you to proceed later with endowments and transactions so that all complies with your jurisdiction.