Charitable foundations are primarily used as legal instruments for providing long-term benefits for the public (non-profit foundation). This does not exclude using them for private purposes. Wealthy private individuals may create a charitable foundation with a partial (one-third) beneficial treatment of family members. In this case, assets are not subject to gift and estate taxes. Only distributions are subject to taxation. However, private foundations do not receive favourable treatment under gift and estate tax laws. They are primarily created to protect businesses from family members.

Our practice includes forming, inter alia

• private foundations;
  
• trust foundations;
  
• incorporated foundations;
  
• foundation associations;
  
• community foundations.