At AIRON TRUST, we have been advising private trustees, providing trust compliance, administration and structuring services as well as professional trustee service, since our company the AIRON TRUST is one of the few licensed professional trust companies in Hungary.
Trust administration refers to the trustees’ management of trust property according to the trust document’s terms and for the benefit of the beneficiaries. Many steps are required to safeguard effective administration. It is recommended to work with an experience trust administrator to help facilitate the process for the trustees throughout the process.
Legal Disclosures in accordance with the Trustees and Trust Companies Act 2014
A private foundation (sometimes referred to as a “private interest foundation” or “family foundation”) is a product of specific laws found mostly in civil law jurisdictions (although some common law offshore jurisdictions have recently added foundation laws) and are particularly useful as an alternative to the trust for those living in civil law jurisdictions where the concept of the Anglo-Saxon trust is less recognized..
The new Civil Code 2013 indtroduced the concept of the trust as fiduciary asset management contract (FAMC or trust) in y2014. The concept of this new type of contract was drawn up on the basis of the model of the trust in English law and that of the Treuhand in German law. The regulation of the FAMC is dispositive, contracting is principally for consideration.
The new Civil Code 2013 indtroduced the concept of the trust as fiduciary asset management contract (FAMC or trust) in y2014. The concept of this new type of contract was drawn up on the basis of the model of the trust in English law and that of the Treuhand in German law. The regulation of the FAMC is dispositive, contracting is principally for consideration.
The landscape of statutes of Hungarian trust laws is constantly evolving, and it takes a special agility to keep abreast of all the latest developments and ensure compliance. At AIRON, we offer trust compliance services for private trustees that perfectly meet your settlor’s requirements
