TAX SUPPORT DURING SETTLEMENT AND MANAGEMENT
It is important to adequately structure the assets before the establishment of the trust in order to ensure that from a tax standpoint the most optimum solution is utilized for the settling of the assets; the managing and operation of the trust; and the realization of yields and provision of allowances to beneficiaries.
The establishment and implementation of a structure, which—during the course of the allocation and management—ensures on the one hand the simple and effective management of the assets, while on the other hand providing protection against creditors and other claims. The established system will allow for the assets as well as the yield to reach the named beneficiaries in a manner in line with the desires of the settlor, while at the same time providing the settlor with the rights to terminate the institution and restore everything to its original state.
Advisory on the optimum arranging of assets between family members; the preparation of prenuptial agreements; as well as advisory on questions concerning family law.
REAL ESTATE LAW
Preparation of sale and purchase agreements, gifting agreements, and documents for in-kind contributions; the allocation of real estate into the trustee; as well as representation in land registry and company registry procedures.
INVESTMENT ADVISORY, PORTFOLIO MANAGEMENT
The shaping of strategies for financial investments; strategic division and management of assets in banks, investment service providers, private banks; as well as the management of essential loan and financial systems and the related contracts regarding assets and life insurance.
Complete advisory concerning the trust assets in accordance with the Act on Accounting; as well as support for the preparation of the general ledger and financial statements.
The trust first became available in Hungary in 2014 through the new Hungarian Civil Code. The institution allows for the settlor to contemplate the long-term fate of their acquired valuables, and to regulate the time and manner of succession of their assets.
The trust provides the opportunity to isolate and protect the affected assets from the other business activities and personal assets of the settlor.
This kind of asset management makes it possible to reallocate the organically developed material positions into an optimal legal and tax structure, which will surely stand the test of time.