AIJA/IBA Joint Seminar, Private Client Commission session on“Foundations on Trust in International Estate Planning and Governance and Succession Planning for the Family Business”
“Migration of settlors and beneficiaries of trusts and foundations: common law vs. civil law jurisdictions” – Speaker
June 20th, 2014 – Berlin, Germany
Mr. Wilson spoke on the topic of “Migration of settlors and beneficiaries of trusts and foundations: common law vs. civil law jurisdictions”.
The session featured panelists explaining the basic rules of Private International Law with regard to trusts and foundations applicable in each of the panelists’ jurisdictions.
The hypothetical factual scenario raised concerned the immigration/emigration of private individuals from/to the respective jurisdictions and the fact that these private individuals have or would like to constitute a trust or foundation.
The following questions were addressed during the course of the session –
1) Why do clients want to set up a trust or foundation?
2) [Does your jurisdiction provide such a structure or a good alternative solution in order to respond to the needs of clients?]
3) [Would it be possible upon immigration to transfer the assets of a trust / foundation to a trust /foundation in the new home country?]
4) How differ trusts / foundations in selected US States (Brad) and [what upon immigration (whether intra US or otherwise)]?
Mr. Wilson shared the panel with speakers from prominent law firms from Germany, England (Farrer & Co) and Belgium.