HOW TO PROPERLY PROTECT YOUR ASSETS AND PASS THEM ON TO YOUR HEIRS?

If you want to invest your money in securities abroad, it is better to set up a company in Luxembourg in order to benefit from taxes. If the investment failed and had to go bankrupt, your spouse should go to court to divide the joint property. In this way it is possible to protect the family assets to some extent. These and other tips were given by the participants in the Pravo.ru conference on managing a large fortune, which was held on December 16.

Elena Gladysheva, Managing Partner of RI-Consulting and Head of Family and Inheritance Law, spoke on "The Element of Surprise: Subsidiary Liability of Heirs. Top 5 tools to minimize liability".

The problem of subsidiary liability is relevant not only in the context of preservation of capital, but also in terms of its transfer to heirs. While previously it was believed that subsidiary liability is inextricably linked with the personality of the debtor, in 2019 the Supreme Court in the case of "Amur Product" expressed the exact opposite position (case No А04-7886/2016). This, according to the Supreme Court, is an ordinary obligation, which should be transferred to the inheritance estate. "It is practically impossible to get away from it now," stressed Elena Gladysheva, Partner at RI-Consulting Law Office. 

But while still alive, the testator can try to make life easier for his heirs. To do this, according to Gladysheva, he should keep the only housing. The heir, for whom the apartment is the only one, has the right to expect that it will be left to him without the withdrawal of the share of the testator. Consider alternative options for managing the property. According to Gladysheva, the best way to look at trusts and foundations in jurisdictions where the culture of their management has developed over the years. Designate the corporation itself or other partners as heirs of the corporate assets, with compensation value payable to the heirs. In the case of vicarious liability, this will minimize the liability of the heirs within that payment. Disinherit the heirs. This is an ideal option that would allow them to completely avoid subsidiary liability, Gladysheva emphasized.

Read more about the event https://pravo.ru/story/237681/

Changes in Russian family and inheritance law, development of economic relations, interethnic marriages, complication of family property and its legal regulation create the need for advice of highly qualified lawyers with a reliable reputation. The Company’s attorneys have considerable experience in advising individuals on family and inheritance law issues on a confidential basis. A large part of our clients in family law matters have reached agreements at the stage before going to court, as well as in the process of litigation (by concluding amicable agreements following litigation).

In matters of inheritance law, our lawyers can resolve issues with the least possible time and financial costs to clients, including through the conclusion of settlements with other heirs. Our lawyers have considerable experience in recognizing the right of ownership of the heirs who have not entered in time in the right of succession and in the court establishing such a right.

Contact: Elena Gladysheva

Email: gladysheva@ri-consulting.ru

Mobile phone: +7 916 559-57-61