Trust Management and Anticipation of Disability

Trust Management and Anticipation of Disability
18 December 2018 pascal.vanhoorne

Trust Management and Anticipation of Disability

The trust is legally defined as an operation by which one or more constituents transfer present or future property, rights or interests to one or more trustees, who keep them separate from their personal assets, act for a specified purpose, benefit of one or more beneficiaries (article 2011 of the Civil Code).

It results in a transfer of “temporary and caused” ownership of the property in trust to the trustee and applies to property of any kind (movable, immovable, tangible, intangible).

The trust contract is void if it proceeds from a liberal intention.

This cause of absolute nullity has led most legal professionals not to be interested in it with conviction. Yet, the trust agreement has many attractions and interests in wealth management.

Alternative to the mandate of future protection, the trust can allow a person worried about his eventual future incapacity to anticipate the management of his patrimony in the event of the occurrence of such a case of force majeure (trust management “for oneself”) . It is an alternative to the establishment of a tutelage or curatorship.

The reasons for this loss of autonomy can be multiple (age, illness, lack of confidence, fear of being influenced by a loved one, …) and the need for such an organization increases with the complexity of the assets to be managed.

The trust may also be an alternative to the posthumous mandate and allow vulnerable or prodigal heirs, without being unable to be accompanied, in the management of property (“for-others” trust).

The firm Christine TURLIER & Partners has developed  a real expertise on the subject and is at your disposal to deepen this heritage tool both very technical and fun.