Testamentary fund. Inheritance fund. Recognition of Russian funds abroad

Chairman of the State Duma Committee on State Building and Legislation, one of the authors of the new law, Pavel Krasheninnikov, told the correspondent " Russian newspaper"on new opportunities for citizens to dispose of property. Such opportunities are provided by the Law signed by the President" ".

Pavel Vladimirovich, new law concerns almost every Russian family. After all, it’s about inheritance law. What is the main innovation?

Pavel Krasheninnikov: The law expands the ability of citizens to dispose of their property in the event of death. A completely new construction for Russian inheritance law is being introduced - the inheritance fund. This is the main innovation of the law. An inheritance fund is a way of managing property, business, and capital that remain after the death of the testator.

Explain to our readers how this inheritance fund will work.

Pavel Krasheninnikov: The inheritance fund will be created and function after the death of the citizen-testator and in accordance with the conditions that he himself determines. The decision to establish a fund is formalized by the citizen when drawing up a will.

Such a decision must contain information about the establishment of the hereditary fund, about the approval of its charter and the conditions for managing the fund, about the procedure, size, methods and timing of the formation of the fund’s property, about the conditions for disposing of the property and income of the fund, as well as about persons appointed to the bodies of this fund , or on the procedure for identifying such persons. All this is determined by the testator during his lifetime and cannot be changed after his death.

An inheritance fund is a new way of managing property, business, capital

Who exactly will organize the fund?

Pavel Krasheninnikov: After the death of a citizen, the notary conducting the inheritance case, within 3 days from the date of opening the inheritance case, sends it to the authorized government agency application for registration of an inheritance fund. He attaches to the application the very decision of the testator to establish the fund, where all the conditions are indicated.

If a fund appears, where will the heirs go and how will the whole scheme work?

Pavel Krasheninnikov: The inheritance fund becomes one of the heirs along with the citizens or organizations specified in the will, or along with the heirs by law. This rule ensures the protection of the interests of the creditors of the deceased, who will be able to make claims against all heirs who accepted the inheritance, including the inheritance fund. And in this way, the rights of the testator’s minor children and other heirs, who by law have the right to an obligatory share of the property issued to them regardless of the will, are protected.

How long should the inheritance fund exist and at whose expense will it operate?

Pavel Krasheninnikov: The management of the fund must be carried out indefinitely or for a certain period, in accordance with the conditions specified by the founder.

The fund's property may be replenished as the fund carries out its activities, including through income from property management. Payments will be made from property or income to those persons indicated by the founder in the will. These may be members of the testator's family, various organizations or citizens who are not heirs of the deceased. Thus, the testator provides financial support certain persons even after their death.

In addition, the possibility of making payments to other persons is established, which will be determined by the trustee or other board of the fund. This will make it possible to implement the will of the deceased to carry out charity. For example, to support gifted children, outstanding scientists, and athletes. By analogy with foreign charitable foundations.

An inheritance fund is a guarantee that the will of the person who made the will will be implemented. Photo: Depositphotos

Who might be most interested in a legacy fund?

Pavel Krasheninnikov: An inheritance fund is an important tool for inheriting, preserving and developing business and other assets. It will allow immediately after the death of the testator to transfer property and business to the management of the foundation. And thus avoid losses in the period between the date of death of the testator and the receipt of the certificate by the heir, which is six months. This solves the problem of the so-called “lying inheritance” in business, when anything could happen to the assets during these six months.

In addition, the appearance of such an instrument in Russian legislation is, among other things, an anti-offshore measure. Since previously Russian entrepreneurs were forced to transfer their assets abroad in order to establish such a fund or trust. Now they will be able to leave their businesses in Russia, preserving capital and jobs here, and developing our economy. So this novelty will help increase the attractiveness of Russian jurisdiction.

Do other countries have something similar or are we talking about a completely new initiative?

Pavel Krasheninnikov: The possibility of establishing such funds, in one form or another, has long existed in the law of many states - in the UK, USA, Austria, Germany and others.

The most famous example hereditary funds abroad is the Alfred Nobel fund, from which the Nobel Prizes are paid. Another example is the Henry Ford Foundation, which received all the assets of the Ford company. It is one of the largest foundations involved in charity. Or the Robert Bosch Foundation, created by the founder of the German concern Bosch. This fund is financed by dividends from the concern's shares and provides grants in education, medicine and culture.

When will these changes take effect?

From September 2018, a new concept will appear in legal terminology – inheritance fund. We suggest you figure out what it is and who will benefit from its creation?

In fairness

The changes made to parts 1, 2 and 3 of the Civil Code of the Russian Federation provided Russians with new opportunities for disposing of property after death. The law on the inheritance fund (IF) will allow you to manage the savings, property and business of the deceased as efficiently as possible.

Any citizen has the right:

create a special form of inheritance management when drawing up a will;

determine the conditions for the functioning of the NF after his death, including who will manage it and how income will flow into it;

approve the charter;

describe the procedure, volumes and methods of replenishing assets;

indicate the managers and the procedure for their appointment;

establish the lifespan of the NF.

Important! Everything that the testator determines during his lifetime is subject to change after his death only in certain cases and exclusively through the court.

In fact, the foundation becomes one of the heirs. For all material values received by the fund will be able to claim rights to:

relatives, including those entitled to an obligatory share;

creditors.

The mechanism will not allow the testator to take advantage of imperfect legislation and hide part of the property from those who have the right to inherit it. The safety of assets will also be ensured, which is not easy to do without an NF if the heirs are elderly parents, spouses or minor children who are unable or unwilling to manage the family business.

How it works?

According to the new law, the inheritance fund begins to function after the death of the testator, who during his lifetime decided all organizational and legal issues on organizing a special form of business management and preservation.

After death, the duties of a notary include:

within 3 days, submit an application for opening an NF along with a will confirming this to the Ministry of Justice;

issue papers to the fund confirming its rights to the inheritance (the deadline for issuing documents is determined by the testator, but according to Article 1154 he cannot delay the deadline for more than six months).

The property of the NF throughout the entire period of its existence will be replenished due to effective management. The proceeds will be paid one-time or regularly to a circle of persons whom the testator lists. These can be either family members or complete strangers, for example, company employees or hospital medical staff. Thus, after death, a person will provide financial support to those whom he considers worthy.

On a note! If the will of the deceased was charity, then board of trustees The NF will be able to determine the circle of persons to pay grants or scholarships.

What rights and obligations does the beneficiary (the one who lays claim to the property of the NF) receive?

his rights are not subject to alienation and are not inherited;

cannot pay off its debts using the assets of the NF;

has the opportunity to receive financing based on the conditions prescribed by the deceased;

information about the activities of the fund is open to him;

can go to court to challenge the form of management and other aspects of the work of the NF;

does not have the right to solely manage the NF;

he is allowed to control important transactions and other activities of the fund.

Solving the problem of “lying inheritance”

He clearly explained to the readers of Rossiyskaya Gazeta, what is an inheritance fund, one of the authors of the bill is Pavel Krasheninnikov, chairman of the Duma Committee on State Construction and Legislation.

In particular, he mentioned solving the problem of “lying inheritance,” when property and any assets are actually “frozen” for six months. This is exactly how long it takes from the moment of a person’s death until the day his relatives receive a certificate of inheritance. During this period, anything can happen to the business, and competitors often take advantage of this “confusion.” New tool allows you not only to preserve, but also to develop a business by transferring it to the fund.

Before Putin signed the law on the inheritance fund, businessmen could create an NF only abroad, which required transferring assets abroad. Now effective tool also available in Russia. Entrepreneurs will be able to keep their business in home country, and with it jobs, thereby having a beneficial impact on economic development. The step to create a new instrument is especially important in the context of anti-Russian sanctions.

On a note! The possibility of establishing hereditary funds exists in the United States, Britain, Germany, Austria and a number of other countries.

Krasheninnikov also recalled the most striking historical examples of the establishment of hereditary funds:

Nobel - from it the well-known prizes for Nobel laureates are paid;

Ford, which contains all the assets of the famous Ford automaker;

Bosha is a name well known to Russians from its popular brand household appliances, but it turns out that the fund, thanks to dividends from shares, supports developments in medicine, science and culture.

The innovation was also discussed at the September meeting of the president with the business community. In general, they supported the idea, emphasizing its relevance “for wealthy people” in connection with the processes of deoffshorization. However, many agreed that they would like to participate in the creation of the SF and its control during their lifetime.

There are concerns about effectiveness new system inheritance and tax authorities. There is no special taxation system for NFs in Russia yet, which means that the possibility of paying double taxes on capital cannot be ruled out.

It remains to say the last point: the inheritance fund is of little interest to ordinary people. They dont have big business and such accumulations that after death it is necessary to create a special organization that would preserve and increase capital.

For ordinary citizens, it would be more interesting to adopt a bill on compulsory sale real estate inherited by several owners. It was submitted to the State Duma for consideration back in the spring of 2016, and if it were adopted, there would be fewer family squabbles and fraudulent schemes when one of the homeowners with an inherited share in the apartment survives from the living space of the others.

A law was recently approved that makes it possible for a new type of organization legal entity- hereditary funds in Russia. They will be created to transfer funds and assets by inheritance, similar to those operating abroad.

The bill expands the rights of residents of our country regarding the disposal of their funds and assets after death. Changes, according to the new laws, will be made to civil legislation.

What it is?

An inheritance fund is a unique, hitherto non-existent way of disposing of funds after the death of the founder. The possibility of its creation will be of interest to wealthy citizens who are worried about maintaining their own business and transferring management to reliable managers. The inheritance fund for ordinary people is quite burdensome with the costs of its management. Expenses are made from the money of the newly organized legal entity.

Subjects

The subjects of the fund are:

Testator.
Heirs after the issuance of a certificate of inheritance.
Beneficiaries.
Controls.

The legal side of the issue of the inheritance fund

The bill highlights the main points of the new provisions on these organizations in our country:

The scope of inheritance by will is legalized in a broader concept. The order to organize the fund, on the one hand, is an integral part of the testamentary document, and on the other, it is understood that the wish of the testator is a separate way of disposing of property after death. The testator predetermines a special procedure for the distribution of the transferred property mass. His will to create a new legal entity may limit the rights of future heirs to legally, including their right to a share after entering into an inheritance after the death of an individual. The heirs participating in the activities of the foundation are not the legal holders of ownership of the testator's property. This implies a restriction on the intended use of the organization’s property, which is fundamentally different from the unlimited possession of inherited wealth. The creation of a new subject of the right of inheritance replaces the previously familiar relations of participation in the management of the fund or the acquisition of dividends from it with new ones.
The founder of the fund is considered to be its sole founder. This is a legal echo of the fact that a testamentary document may contain the will of one testator. The legislation of our country does not provide for such an institution as a joint will.
The creation of the fund begins after the death of the testator. The organization does not provide for a person who would be the owner of the funds and assets transferred to it, even after the heirs enter into an inheritance after death. The foundation exists separately in civil society without belonging to any individual, even if he inherited it after the death of its founder.
A fund is a legal entity.
The activities of the foundation are non-commercial.
The property transferred to the fund must have its intended use. The organization is a non-profit enterprise without membership, established by an individual on the basis of a voluntary contribution of property or in cash. The goals of the inheritance fund should be related to charity and causes useful to civil society. This legal entity uses property for non-commercial purposes described in its charter, which provides for the right to carry out profitable activities permitted by law.

Creation

According to the law, the creation of an inheritance fund will be carried out by a notary after the death of a citizen with the further transfer of existing assets to it. The notary must act in accordance with the will of the testator.

The founder of the foundation should include the following information in the testamentary document:

on the creation of a legal entity;
on approval of its charter;
on determining management conditions;
on the procedure and amount of formation of the fund’s property;
about the persons who are entrusted with the management of the fund;
on the procedure for appointing persons.

Actions of a notary after the death of the owner of the estate:

The notary officer is given three days to send to the authority state power an application for the creation of a fund with the data of an individual or the name of a legal entity that will manage this organization in the future.
Assets are managed without specifying a period or for a time-limited period in accordance with the conditions set out in its charter.
All inherited property is transferred to the foundation.
A portion of the organization's property is allocated to the heirs at the time they enter into the right to use after the death of the owner of the fund.

The management of the organization must be spelled out in detail in the will by the collegial body of the inheritance fund. Innovations in the law provide for a special procedure for creating a governing council. Before submitting an application for registration of a fund, the notary considers the issues of creating the governing bodies of the fund. If management bodies are not created within a calendar year, the organization may be liquidated at the request of the beneficiary or the state regulatory body. In this case, the fund is not registered and does not become a legal entity. Legal form a fund requires high-quality management and high competence of board members, typically characteristic of corporate organizations.

The charter and management conditions cannot be adjusted after the death of the person who was the founder of the fund and during the operation of the organization. An exception is the adjustment of the constituent document on the basis of a court decision at the request of the collegial body of the fund in the following cases:

Managing the organization under the same conditions is impossible for reasons that could not be predicted.
The beneficiary is an unworthy recipient of the inheritance, provided that this was not known at the time the foundation was created.

Beneficiary

The beneficiaries of the inheritance fund can be anyone, with the exception of commercial organizations. Let's consider a few main points of beneficiary rights:

He has the right to receive all or only part of the fund's assets.
His rights are inalienable and cannot be enforced against his debts.
His rights in relation to the fund are not inherited.
If the beneficiary is a legal entity, then its rights are terminated after a possible reorganization with the exception of transformation, unless the management conditions provide for the termination of rights upon transformation of the entity.
He is not liable for the obligations of the fund, and the latter, in turn, is not liable for its obligations.
An heir who has rights to an obligatory share and is a beneficiary loses the right to claim the portion due to him. If the successor, during the period for accepting the inheritance, declares a waiver of the rights of the beneficiary, then he has the right to claim his share.

Taxation of the fund

The tax legislation of our country does not provide for special features for the fund. Taxation of the institution is carried out in accordance with the regime of all non-profit organizations. This determines the investment relevance of the inheritance fund and the desire of wealthy citizens of our country who own their own businesses to choose a fund as a form of disposal of property after death. Driven by attractive fiscal policies for income acquired from a fund in Europe, this form of post-life estate management is in demand among European citizens with high tax rates on income individuals.

Foundation and family law

The issues of the relationship between the institution of a foundation in Russia and the basics of family legislation on legal relations in the field of joint property of spouses, the rights of the other spouse, evidence for invalidation have not been fully worked out sole decision about the creation of such a fund. The new law makes no reference to the norms of family law governing the legal relations of spouses. This indicates the birth of a new judicial practice. This applies, in particular, to inherited funds.

Foreign examples

Currently, the opportunity to create funds exists in many countries around the world. For example, there are inheritance funds in Germany.

Abroad, similar organizations are created by wealthy businessmen. Moreover, this is done for the public benefit. Funds from the non-profit structure are spent on the development of universities, cities, and countries. The most famous example is the Nobel Foundation.

Differences between domestic and foreign funds

Let us describe the significant differences between European and Russian funds:

Existence of foreign public law foundations and private foundations. Such structures are classified as private legal entities and are entered into the trade register. For example, the Liechtenstein deposit fund, constituent documents which must be sent to the trade register, but information about it is closed from public coverage in the media to maintain anonymity about this organization. The legal personality of a Liechtenstein foundation is characterized by transactions through the representation of proxies. The responsibility for disclosing information about the beneficial owner and members of the collective management body is transferred to deposit assets.
European legislators limit the range of possible purposes for the use of assets by hereditary funds. The goals must be useful to civil society. commercial activity is allowed only if it is directly aimed at achieving the stated goals.
An impressive amount of authorized capital of organizations in European countries. If for such a fund in our country the minimum amount of authorized capital is not limited by law, then for a European one it is limited. Authorized capital Fund in Germany is from fifty thousand euros.
A clear focus on the stated goals of inheritance, simplicity and convenience of creation procedures. In Liechtenstein, to create a foundation, a statement from the testator to separate his personal property into the foundation is sufficient.
In Europe, the organization is a means of protecting assets from the claims of the testator's creditors. The legal nature of a fund in Europe may provide for the right of priority to an obligatory share to the heirs and (or) the right of privilege of payments on an ongoing basis to the beneficiary over creditor claims.
The widespread practice of organizing anonymous funds.
Control over the activities of the fund by the authorized government body. The structure of regulatory authorities in European countries includes institutions for control of public and private funds, including hereditary ones. The authorities control the use of property in accordance with the stated purposes. European funds are required to submit annual reports to the supervisory authority.
The presence of specialized courts that consider disputes arising from legal relations in funds.

Recognition of Russian funds abroad

The situation regarding the recognition of funds abroad is complicated by the fact that the issuance of a certificate of the right to inheritance by a Russian notary in foreign countries requires recognition by a court or other government body. When transferring property located outside Russia to a fund in our country, the task of taking possession of property located abroad becomes difficult to solve. In this case, one should turn to international legal norms for the recognition of foreign official documents by virtue of the provisions international treaty and national law.

This is a common problem in international law due to the inactivity of the authorities of our country in coordination with other states in resolving issues of the needs of citizens on a daily basis in family and inheritance legal relations.

There is little time left before the new laws on the fund come into force in our country this fall. The noted problems can be resolved in the process of international cooperation between Russia and other countries or in the process of law enforcement practice, with the expectation of reasonable consideration of cases in the courts.

The most famous funds

Abroad, funds are created by wealthy people in order to:

ensure the well-being of your family and relatives after your death;
benefit society.

We list the well-known hereditary organizations:

Nobel Foundation. Founded at the beginning of the twentieth century according to the will of the famous Swedish inventor. The scientist left his entire fortune, with a few exceptions, to pay several prizes a year (physics, chemistry, physiology and medicine, literature, world recognition). The bulk of the fund's assets are invested in projects. The bonuses are financed from investment profits. The amount of the award to date has amounted to about a million dollars.
Ford Foundation. The organization was founded by Henry Ford's son, who gave him the first twenty-five thousand dollars. After he and his father died, the foundation received all of their assets. The board of trustees of fifteen people was headed by the youngest grandson of the company's founder. New members are elected by the council itself. Now the fund is engaged in investments and is one of the largest charitable organizations in the world.
Welkom Foundation. After the death of the founder of a pharmaceutical holding in the UK, Henry Wellcome, all his property was given to the organization bearing his name. It now operates as a not-for-profit entity with assets of eighteen billion pounds sterling, funding developments in the field of medicine.
Bosch Foundation. Based on the decision of the founder of the German concern Bosch, an organization named after him was created. The fund owns part of the concern's shares and operates through its dividends.

These are the most famous and rich non-profit organizations in the world.

MOSCOW, July 20 – RIA Novosti. The State Duma adopted in the third reading a bill providing for the possibility of creating special inheritance funds in Russia, which can be used to transfer property by inheritance by analogy with Western European funds.

Inherited funds, similar to Western European ones, will appear in the Russian FederationAccording to the amendments, the Russian fund will be managed by a supervisory board, a director reporting to it and, at the discretion of the founder, an additional board of trustees.

As the author of the bill, Chairman of the State Duma Committee on Legislation Pavel Krasheninnikov, said, the project expands the possibilities of citizens regarding the disposal of their property after death. In particular, it provides for the introduction of a new structure for Russian law - an inheritance fund. “Currently, such a construction in one form or another is present in the law of many states,” Krasheninnikov noted.

The bill provides that the inheritance fund will be created and operate after the death of the citizen-testator. The decision to establish it is formalized by the citizen when drawing up a will. Such a decision must contain information about the establishment of an inheritance fund, about the approval of the charter of the fund and the conditions for managing the fund, about the procedure, size, methods and timing of the formation of the property of the inheritance fund, as well as about persons appointed to the bodies of this fund, or about the procedure for determining such persons , said the head of the State Duma Committee on Legislation.

As the deputy explained, after the death of a citizen, the notary in charge of the inheritance case sends an application to the authorized state body about state registration inheritance fund and attaches to the application the testator’s decision to establish the fund. The notary is obliged to send such an application to the authorized body no later than 3 working days from the date of opening the inheritance case, Krasheninnikov added.

The inheritance fund becomes one of the heirs along with the citizens or organizations specified in the will or along with the heirs by law. “This rule ensures the protection of the interests of the creditors of the deceased, who will be able to present their claims for the debts of the testator to all heirs who accepted the inheritance, including the inheritance fund,” added Krasheninnikov.

In addition, the bill protects the rights of minor children of the testator and other heirs who have the right to an obligatory share (property issued to them regardless of the will).

“The management of the fund must be carried out indefinitely or for a certain period in accordance with the conditions that are determined when drawing up the will. The conditions for managing the fund cannot be changed after the death of the citizen who was the founder of the fund,” Krasheninnikov explained.

The fund's property can be replenished during the implementation of its activities by the fund, as well as from income from the management of the fund's property. "From the property transferred to the foundation, or from the income from the management of the foundation's property, distributions will be made to the persons specified in the will. These may be members of the testator's family, various organizations or citizens who are not heirs of the deceased. The project allows for the possibility of paying income or other sums of money (for example , grants) to those citizens who will be determined by the fund’s board of trustees or another,” the deputy noted.

According to him, this will make it possible to implement the will of the deceased, for example, to support gifted children, outstanding scientists, and athletes.

According to Krasheninnikov, inheritance funds are an important tool for inheriting, preserving and developing a business. He believes that such funds will be in demand by the business community.

In addition, Krasheninnikov noted that the introduction of such an institution in Russian law may be, among other things, an anti-offshore measure. “At present, it is possible to establish inheritance funds or trusts in many countries of the world, and Russian entrepreneurs are often forced to transfer their business to offshore zones in order to establish such a trust or fund to resolve issues regarding the disposal of assets after death,” Krasheninnikov said.

The most famous example of inherited funds abroad is the Alfred Nobel Foundation, from which the famous Nobel Prizes are paid. Another example is the Robert Bosch Foundation, created by the founder of the German concern Bosch, financed by dividends from the concern’s shares, and providing grants in education, medicine, and culture, the State Duma Committee on Legislation said in a statement.

From September 1, 2018 in Russia there will be new form legal entity - inheritance fund. What it is? Why is it needed? How will it work? You will find answers to these and other questions in our article.

What is an inheritance fund and who needs it?

First of all, an inheritance fund is an organization created in accordance with the will of the testator after his death. The main idea is to manage his inherited property after the death of the testator. Moreover, this management can be indefinite or for a certain period.

If we talk in simple words, then the inheritance fund must manage the property, business, and capital that remain after the death of the testator.

The inheritance fund is needed, first of all, by the testator, no matter how strange this judgment may seem. The fact is that thanks to the created fund, the testator has the opportunity not only to preserve the business after his death, but also to create conditions for its development. This will be especially true in cases where the testator does not have heirs or the heirs are unable to manage and develop the business.

How does the inheritance fund work?

For the fund to start working, it must appear, i.e. must be established. The decision to establish a foundation is made by the testator during his lifetime. But the actual establishment of the fund can only take place after the death of the testator.

The testator's decision to establish a foundation

The decision to establish an inheritance fund is formalized when drawing up a will. In this regard, the testator must include in the will:

information about the establishment of an inheritance fund;
information about the approval of the foundation's charter;
information about the conditions of fund management;
information on the procedure, size, methods and timing of the formation of the fund’s property;
terms of disposal of the fund’s property and income;
information about persons appointed to the bodies of this fund, or about the procedure for determining such persons.

In addition to formalizing the decision to establish the foundation, the testator must approve the foundation's charter. After the death of the testator, one copy of the charter is transferred by a notary to the authorized body when registering the fund, and the other is transferred to the person performing the functions of the sole executive body of the fund. If the testator indicated a beneficiary in the will, then a copy of the decision on the establishment of the inheritance fund and a copy of the charter are transferred to the beneficiary.

Depending on the decision of the testator, an inheritance fund can be created either indefinitely or for a certain period.

Establishment of an inheritance fund

An inheritance fund is established after the death of a citizen. Until his death, a citizen does not have the right to establish such a fund.

The foundation is established either by a notary or by a court.

Establishment of a fund by a notary. After the death of a citizen, the notary in charge of the inheritance case, within three days from the opening of the inheritance case, sends an application for registration of the inheritance fund to the authorized state body. He attaches to the application the testator’s decision to establish a fund, which specifies all the conditions.

Establishment of a fund by the court. An inheritance fund is created on the basis of a court decision at the request of the executor or beneficiary of the inheritance fund in the event that the notary does not fulfill his duties to create the inheritance fund.

After creation, the foundation is called upon to inherit by will in the manner prescribed by the civil legislation of the Russian Federation. That is, the foundation must accept the inheritance.

When the foundation accepts the inheritance, the notary issues the foundation a certificate of the right to inheritance within the period specified in the decision on the establishment of the inheritance fund, but no later than six months from the date of opening of the inheritance.

The foundation can have any name that the testator comes up with. But the name of the fund must indicate that it is a “hereditary fund.”

Functioning of the fund

The conditions and rules for managing the inheritance fund are determined by the testator during his lifetime. He fixes these conditions and rules in his decision to establish the foundation after his death. The testator’s decision itself is reflected in his will, which is certified by a notary.

Certain conditions for the functioning of the inheritance fund are reflected in the charter.

Let us note that without a court decision, neither the charter of the inheritance fund nor the conditions for managing the inheritance fund can be changed after the creation of the inheritance fund.

The foundation's property includes only the property of the testator and that property that has arisen solely as a result of the foundation's own activities. No property contributions from outside are possible.

Let's note one important point. The activities of the fund begin immediately after its creation, without the six-month period that is given to the heirs to enter into the inheritance. It is very important. In fact, this is one of the highlights of the inheritance fund. The testator's business is not left without management for six months after the death of the testator.

In the current regime, the inheritance fund carries out activities to manage property received by inheritance, manages an enterprise and business.

Who manages the inheritance fund

The governing bodies of the hereditary fund are formed in accordance with its charter. The foundation's charter may provide for:

higher collegial body(it may include beneficiaries of the fund);
board of trustees;
sole executive body (it cannot be any beneficiary) or
collegial executive body (the beneficiary cannot be its member).

The beneficiary cannot be the sole beneficiary executive body, and also be a member of the collegial executive body.

Before the start of registration of the fund, the notary invites the persons identified by the testator to become members of the fund's management bodies. If they refuse or the procedure for identifying these persons does not make it possible to form the bodies of the fund, then the notary has no right to send even an application for the creation of the fund to the authorized body. In this case, the inheritance fund is not created at all.

Who are the beneficiaries of the inheritance fund?

The concept of “beneficiaries of the fund” is defined in the Civil Code of the Russian Federation.

The beneficiary is understood to be a person who is either appointed by the testator himself or appointed in accordance with the procedure established by the testator in the decision to establish an inheritance fund. All property of the inheritance fund or part of it is transferred to the beneficiary.

The beneficiaries of the fund are determined by the testator when approving the terms of management of the inheritance fund. Beneficiaries of the inheritance fund can be any participants in legal relations, except for commercial organizations. The beneficiaries of the fund are most often the heirs of the testator.

The beneficiary has the right:

receive all or part of the foundation's property;
waive the right to receive the foundation's property;
request and receive information from the hereditary fund about the activities of the fund;
require an audit of the fund’s activities;
demand compensation for losses incurred by him if they occurred due to violations of the terms of management of the inheritance fund.

It is important to note that the rights of the beneficiary are inalienable, they cannot be enforced for the obligations of the beneficiary, and these rights are not inherited.

Inheritance fund and heirs

Let us immediately note that when creating an inheritance fund, the rights of the heirs are not violated or infringed. Although the inheritance fund becomes an equal heir along with the heirs.

The fact is that when a share in a company or enterprise becomes part of the inheritance estate, this share can be transferred to the hereditary fund. And the beneficiaries of the fund will be the heirs, as well as persons not named as heirs in the will.

In addition, minor or disabled children of the testator, his disabled spouse and parents, as well as disabled dependents of the testator, are called upon to inherit and inherit, regardless of the contents of the will, at least half of the share that would be due to each of them upon inheritance by law (mandatory share).

It should be noted that from September 1, 2018, a new procedure was introduced for determining the rights of an heir entitled to an obligatory share in the inheritance in the event of the establishment of an inheritance fund. But in this article we do not describe this procedure.

Pros and cons of an inheritance fund

The practice of creating and operating inherited funds will appear no earlier than the end of 2018. Therefore, it is too early to talk about the advantages and disadvantages of inherited funds. However, some assumptions can already be made.

Advantages:

the fund allows citizens who have their own business to keep it after their death;
the fund enables testators who own own business, provide for their heirs and other persons even after their death;
the fund allows the company or enterprise not to remain idle for six months, but to continue working after the death of the testator;
gives the testator the opportunity to direct the funds of the fund for good purposes.

Possible disadvantages: