The Use of the Hungarian Foundation for Asset Protection and Private Purposes

By Ákos  Menyhei Ákos Menyhei

The introduction of the new Hungarian Civil Code three years ago has changed the estate planning environment. By modifying the basic character of foundations, the new provisions make the Hungarian foundation moderately usable in estate planning. In this article, the author explains the possible ways of using the Hungarian foundation for asset protection and private purposes. An account will be given of the advantages and disadvantages of transferring assets into a foundation, as opposed to a company or a trust.

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