Private Foundations: Law and Practice

by Paolo Panico

Overview

Private foundations are now offered as an alternative to traditional trusts in a growing number of international financial centres and an increasing number of practitioners - in the relevant jurisdictions and elsewhere - are asked to advise clients who are thinking of protecting their wealth in this way. As more jurisdictions introduce legislation, there is a greater need for practitioners to have a clear understanding of the law underpinning the creation and running of foundations. Written by a leading expert, Private Foundations: Law and Practice is an invaluable resource for anyone advising on or involved in the establishment and maintenance of private foundations. Each chapter discusses a fundamental aspect of private foundation law, with reference throughout to the most significant civil and common law jurisdictions. The author discusses not only the creation and management of private foundations, but also looks carefully at the powers, rights, and liabilities of their founders, officers, and beneficiaries. Every topic is analysed with reference to the legislation and case law of a number of key civil law jurisdictions (Liechtenstein, Austria, Panama, and Malta) as well as to the developing law in selected common law jurisdictions (St Kitts, Bahamas, Anguilla, Belize, Jersey, Guernsey, the Isle of Man, the Seychelles, Mauritius, and the Cook Islands). Offering a rigourous and analytical review of the law relating to private foundations, this book is ideal for anyone involved in this developing area of wealth management.

Product Details

ISBN-13:	9780191020810
Publisher:	OUP Oxford
Publication date:	03/13/2014
Sold by:	Barnes & Noble
Format:	eBook
Pages:	424
File size:	2 MB

About the Author

Paolo Panico is Chairman and Managing Director of Private Trustees S.A., an independent trust and corporate service provider with registered office in Luxembourg and a branch in Geneva. He has an academic background and has taught in some Italian Universities (Milan 'Bocconi', Bergamo, Modena, and Sassari). He is currently an adjunct professor of Legal Structures in a Master sin Wealth Management at the University of Luxembourg. Paolo is an academician of The International Academy of Estate and Trusts Law and a member of the Committee of the International Tax Planning Association (ITPA). He is a member of the Society of Trust and Estate Practitioners (STEP) and he is currently serving as head of the Technical Committee of the Benelux branch. Paolo has written a wide range of articles on trust law, is Country Correspondent for the journal Trusts&Trustees (OUP, 2006-), and is also the author of International Trust Laws (OUP, 2010).

Table of Contents

1. Introduction: the making of private foundations2. The Founder3. Foundation Council and Management Bodies4. The Beneficiaries and their Right to Information5. Protectors and Supervisory Bodies6. Forced Heirship and Asset Protection7. Private Purpose Foundations