Interlegal lawyers drafted business inheritance scheme for the client
27 May, 2019
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The client applied to Interlegal for its business inheritance scheme.
Since the business corporate structure includes, inter alia, non-resident companies, the trust in Liechtenstein was used in order to achieve all the goals.
Apart from the standard list of trust documents, individual Letter of Trust has been drafted, with certain list of successors, terms for inheritance and procedure of profit distribution between successors.
In this case, the Trustee controlled the asset use in full. In accordance with the Ukrainian law, the person in whose favour trust was incorporated in Liechtenstein is not an ultimate beneficiary owner (controller).
Such trust form is known as blind trust.
In accordance with the law of Liechtenstein, the Trustee may be any person having an appropriate license for such type of activity, so there are minimum risks of the asset improper use.
Another option provides that the owner (trust founder) may control the asset use as the trust protector. In such case, the owner still has full control over the trust assets and therefore is deemed as the trust beneficiary.
Interlegal associate attorney Daria Liashenko, under the general supervision of partner Irina Voyevodina, led the case.
