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With thanks to the team of Kunstraum Engländerbau, Vaduz, and to artist Ursula Wolf of Atelier 62
Foundations versus trusts: What is suitable for whom?
A foundation has a long tradition in continental European law. It is a separate legal entity. In contrast, a trust is not a legal entity, but rather a legal relationship between the settlor (trustor), trustee and beneficiary. The trustee is the legal owner.
A trust is a legal construct from the Anglo-American legal system. Clients from the Anglo-American legal system understand trusts better and often feel more comfortable with this legal institution. The same applies to European clients with regard to foundations, which originate from the continental European legal tradition.
