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Trusts in Liechtenstein are regulated by the Trusts Law, which was enacted in 1926. A trust is a legal relationship where a person (the trustee) holds assets for the benefit of another person or group of people (the beneficiaries). Trusts in Liechtenstein are commonly used for estate planning, asset protection, and charitable purposes.
You may need a lawyer for assistance with creating a trust, understanding the legal implications of a trust, resolving disputes related to a trust, or managing the administration of a trust. A lawyer with expertise in trusts law can provide valuable guidance and ensure that your interests are protected.
Key aspects of Liechtenstein's trust laws include the ability to create discretionary trusts, the requirement for trusts to have a local trustee, the strict confidentiality provisions related to trusts, and the favorable tax treatment of trusts in Liechtenstein.
A: A trust is a legal arrangement where assets are held by a trustee for the benefit of beneficiaries during the trustee's lifetime and after their death, whereas a will is a legal document that specifies how a person's assets should be distributed after their death.
A: Trusts in Liechtenstein are generally not subject to contestation, but disputes related to trusts can be resolved through legal proceedings in the Liechtenstein courts.
A: A trustee in Liechtenstein can be an individual or a legal entity, but at least one trustee must be a resident of Liechtenstein.
A: Trusts in Liechtenstein are not subject to income or capital gains tax, making Liechtenstein an attractive jurisdiction for establishing trusts.
A: Yes, a trust can own real estate in Liechtenstein, subject to compliance with local laws and regulations.
A: Beneficiaries of a trust are typically designated in the trust deed or can be determined based on specific criteria outlined in the trust instrument.
A: The duties of a trustee in Liechtenstein include acting in the best interests of the beneficiaries, managing trust assets prudently, and complying with the terms of the trust deed.
A: Trusts in Liechtenstein can be revoked or amended in accordance with the provisions outlined in the trust deed or by court order.
A: The timeframe for setting up a trust in Liechtenstein can vary depending on the complexity of the trust structure and compliance with regulatory requirements, but it typically takes a few weeks to establish a trust.
A: You can seek recommendations from other professionals in the legal or financial services industry, research reputable law firms specialized in trusts in Liechtenstein, or consult with legal directories and bar associations for qualified lawyers.
For additional information on trusts in Liechtenstein, you can visit the Financial Market Authority of Liechtenstein (FMA), the Liechtenstein Bar Association, or consult legal publications and resources specific to trusts law in Liechtenstein.
If you require legal assistance with trusts in Liechtenstein, consider reaching out to a qualified lawyer with expertise in trusts law. A lawyer can guide you through the process of establishing a trust, provide advice on managing trust assets, and help resolve any legal issues related to trusts in Liechtenstein.
