Abstract
Abstract Since 2018, Russian law has provided for the concept of a “Hereditary Foundation”, a private foundation which can be established after the demise of the testator and which can act in a way similar to a common-law trust. It is an option for complex estate planning under Russian law. It has attracted both interest and controversy, with many concerned that the gray area, lacunae, and inconsistencies in the legislation may prevent its effective implementation. The authors analyze the practical challenges in this area and consider whether and how this vehicle fares in competition with the non-Russian structures traditionally used by Russian private clients for estate and succession planning.
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