Best Trusts Lawyers in Sweden

About Trusts Law in Sweden:

Trusts are a legal arrangement where a person, known as the settlor, transfers assets to a trustee to hold and manage them for the benefit of beneficiaries. In Sweden, trusts are governed by the Swedish Trusts Act (Lag om Förtroendemansförvaltning) which came into effect in 2019.

Why You May Need a Lawyer:

There are several situations where you may need legal help in trusts, such as creating a trust, interpreting trust documents, resolving disputes among trustees or beneficiaries, or ensuring compliance with trust laws and regulations.

Local Laws Overview:

The Swedish Trusts Act regulates the creation, administration, and termination of trusts in Sweden. Some key aspects of the law include the requirement for a written trust instrument, the duty of the trustee to manage the trust assets prudently, and the rights of beneficiaries to information about the trust.

Frequently Asked Questions:

1. What is a trust?

A trust is a legal arrangement where a settlor transfers assets to a trustee to hold and manage them for the benefit of beneficiaries.

2. How do I create a trust in Sweden?

To create a trust in Sweden, you need to draft a written trust instrument that specifies the terms and conditions of the trust, appoint a trustee, and transfer assets to the trust.

3. What are the duties of a trustee in Sweden?

The trustee in Sweden has a duty to manage the trust assets prudently, act in the best interests of the beneficiaries, and comply with the terms of the trust instrument.

4. Can I be a trustee and a beneficiary of the same trust in Sweden?

Yes, it is possible to be both a trustee and a beneficiary of the same trust in Sweden, as long as there is at least one other beneficiary.

5. How are trusts taxed in Sweden?

In Sweden, trusts are subject to income tax on any income generated by the trust assets. The tax rates vary depending on the type of income and the beneficiaries of the trust.

6. Can a trust be revoked in Sweden?

Yes, a trust can be revoked in Sweden if the settlor has reserved the right to revoke the trust in the trust instrument.

7. What happens if a trustee breaches their duties in Sweden?

If a trustee breaches their duties in Sweden, they may be held personally liable for any losses incurred by the trust or its beneficiaries.

8. How can I change the terms of a trust in Sweden?

To change the terms of a trust in Sweden, you may need to amend the trust instrument with the consent of all parties involved, including the settlor, trustee, and beneficiaries.

9. Can a trust protect assets from creditors in Sweden?

Trusts in Sweden may offer some protection from creditors, depending on the terms of the trust and the specific circumstances of the case.

10. Do I need a lawyer to create a trust in Sweden?

While it is not legally required to have a lawyer create a trust in Sweden, it is highly recommended to seek legal advice to ensure that the trust is properly structured and compliant with local laws.

Additional Resources:

For more information on trusts in Sweden, you can contact the Swedish Bar Association (Advokatsamfundet) or visit the Swedish Tax Agency (Skatteverket) website for guidance on tax implications of trusts.

Next Steps:

If you need legal assistance with trusts in Sweden, consider consulting a lawyer who specializes in trusts law to help you navigate the legal complexities and protect your interests.