What are the legal aspects that need to be considered when establishing a foundation in Liechtenstein?

It is particularly important for future donors to be aware that foundations are an instrument of intergenerational succession planning. With the act of endowment, the donor separates himself from his assets. The endowment is now the property of the foundation and no longer belongs to the donor. Consequently, a foundation cannot be a donor’s personal bank account. Once a foundation has been created, it cannot be changed at will. Upon the establishment of the foundation, the founder’s intent becomes fixed and unalterable, and may only be amended in very specific cases. The establishment of a foundation therefore needs to be carefully considered. A foundation is a cross-border instrument and the jurisdictions in which the donor and the beneficiaries live must also be taken into account.