Abstract
Abstract Russia’s first attempt in 2018 to introduce a structure suitable for holding private assets and transferring business assets across generations, the post-mortem private foundation, was not very successful, as not a single foundation of this type was established due to its complicated creation procedure and drafting flaws in the legislation. Now, with effect of March 2022, a new form of private foundation has been introduced, which can be created during the settlor's lifetime. The authors analyze the key features of this new structure, its benefits and challenges for settlors and beneficiaries that the Russian legal system will soon have to face, when this new type of private foundation will start being implemented.
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