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Trust Laws in the Czech Republic and Hungary

Trust Laws in the Czech Republic and Hungary

Author: Paolo Panico
Publisher: Globe Law and Business
ISBN: 9781837230068
Published In: November 2024
Format: Hardback , 328 pages
Jurisdiction: Czech Republic, Hungary ? Disclaimer:
Countri(es) stated herein are used as reference only

List Price: HKD 2,145.00

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Both Czech and Hungarian trusts celebrate their 10th anniversary in 2024. These modern structures were introduced in response to the limitations of earlier succession-planning mechanisms and, together with other legal instruments, provided new tools for wealth management, estate planning and asset protection, which have reshaped the estate-planning environment.

Trust Laws in the Czech Republic and Hungary explores the issues and challenges encountered when introducing common law trust concepts into civil law legal systems. It also reviews the legal and practical aspects of trusts in these two – quite different – jurisdictions, and the book is divided into two parts which deal separately with Czech and Hungarian solutions.

Authored by well-known experts in this field, chapters cover the basics of the structures, providing a broad overview of key points including:

the legal and regulatory formalities;
trustees: their duties and responsibilities;
beneficiaries;
taxation; and
the practical uses of trusts for estate planning and asset protection.

This title provides the only systematic review of Czech and Hungarian trust laws in English. It is an invaluable reference work to help lawyers and other private client advisers structure their clients' wealth. Additionally, professional trustees involved in the administration of Czech and Hungarian trusts, as well as accountants and tax advisers dealing with the tax treatment of trusts in the CEE region, will find this to be an indispensable guide.

Part I: Trust Laws in the Czech Republic

History, implementation, peculiarities and adaptations

James Turnbull

Formalities and documents – statute, contract, changes

Vlastimil Pihera

How trusts are used

Helena Svárovská

Trustees

Petr Laštovka

Trustee duties and responsibilities

Petr Jakubec

Beneficiaries, eligible persons and rights to information

Jirˇí Pokorný

David Neveselý

UBO register and register of trusts

Daniela Gadasova

Taxation of trusts

Ivan Ková

Private family foundations – an alternative

Šteˇpán Holub

Part II: Trust Laws in Hungary

History, implementation, peculiarities and adaptations

István Sándor

Settlors, formalities and documents – contract, unilateral declaration, testament – changes

István Sándor

How trusts are used

Ákos Menyhei

Professional trustee

István Illés

Ad hoc trustee

Sára Seszták

Beneficiaries, protectors, eligible persons and rights to information

Gábor B Szabó

Ákos Menyhei

Taxation of trusts

Csaba Magyar

Private family foundations – an alternative

Ákos Menyhei

Consulting editors

Contributing firm	Name
Kelemen, Mészáros, Sándor and Partners	István Sándor
STEP Europe	Paolo Panico
Uplift	James Turnbull

Contributors

Contributing firm	Name
Aliant-Menyhei-Molnár-B. Szabó Law Firm	Gábor B Szabó
APELSO Trust	István Illés
BDO Czech Republic	Ivan Kovář
CEEtax	Daniela Gadasova
Charles University; PRK Partners	Bohumil Havel
Crystal Worldwide Law Firm	Csaba Magyar
EMUN	Michaela Dražková
EMUN	Petr Laštovka
Havel & Partners	David Neveselý
Havel & Partners	Jiří Pokorný
Holubová advokáti s. r. o.	Štěpán Holub
J&T Family Office	Helena Svárovská
Kocián Šolc Balaštík	Vlastimil Pihera
Primus Wealth; Aliant-MenyheiMolnár-B. Szabó Law Firm	Ákos Menyhei
ROSE Legal s.r.o., advokátní kancelář	Petr Jakubec
Seszták Ügyvédi Iroda	Sára Seszták