Trusts in Civil Law and Mixed Jurisdictions

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Type and Duration

FFF-Förderprojekt, February 2015 until March 2017 (finished)

Coordinator

Chair of Company, Foundation and Trust Law

Main Research

Wealth Management

Field of Research

Wealth Planning

Description

The global importance of trusts as vehicles for wealth management is on the increase. However, it can be noted that the use of trusts in Liechtenstein is on the decline. There are a number of factors responsible for this development: the inherent difficulties in using a common law instrument in a civil law environment as well as the lack of statutory reform, case law and literature on Liechtenstein trusts.

This project aims to overcome these hurdles by achieving three objectives, namely identifying the problems faced in Liechtenstein trust law, identifying and evaluating the solutions offered in other civil law jurisdictions using comparative law methods and assessing the feasibility of incorporating such solutions or new solutions developed on the basis of the research into Liechtenstein law.

This project is the first of its kind with reference to Liechtenstein. While comparative law analyses encompassing Liechtenstein trust law exist, they have to date been confined to a comparison with the trust laws of common law jurisdictions or the German fiduciary Treuhand. Most of the international comparative law publications which focus on the trust in civil law jurisdictions do not refer to Liechtenstein specifically.

In order to achieve the goals set, the project will be divided into three phases, each requiring different research methods. Emphasis will be placed on obtaining information through analysis of the sources of law and legal literature. However, empirical research will also be necessary to fill in any possible gaps.

The anticipated outcome of the project is a solid foundation for the further development of statutory law and case law. The project results will be disseminated through the publication of articles and presentations at conferences. This will make the results accessible to other academics and to practitioners, thereby both increasing academic discussion on the subjects and benefiting the consulting industry.

Reference to Liechtenstein

The aim of this project is to identify the problems faced in Liechtenstein trust law, to identify and evaluate the solutions offered in other civil law jurisdictions and to assess the feasibility of incorporating such adapted solutions or newly developed solutions into Liechtenstein law. It must be highlighted that this project is the first of its kind with reference to Liechtenstein. In this project, civil law jurisdictions facing similar problems in regard to trust law will be examined. The anticipated outcome of the project is a solid foundation for the further development of statutory law and case law.

Keywords

Trust Law, comparative law, legal certainty, civil law jurisdictions, wealth management vehicle

Principal Investigator

Univ.-Prof. Dr. Francesco A. Schurr

Project Collaborators

Dr. iur. Ines Fässler, LL.M.

Mandeep Lakhan, LL.B. (Hons), M.A., LL.M.

Dr. iur. Angelika Layr, BSc, LL.M.

Sponsor

Publications

  • Schurr, F. (2017). Rechtliche Ausgestaltung und Anwendungsbereiche des Trusts in Liechtenstein. Zeitschrift für Stiftungs- und Vereinswesen (ZStV)(1), 12-18.

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  • Schurr, F. (2015). Beneficiaries' rights and foundation governance in Liechtenstein. Trusts & Trustees, 21(6), 674-678.

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  • Schurr, F. (2015). Gli affidamenti fiduciari nel diritto civile: il caso del Liechtenstein. Studi urbinati di scienze giuridiche, politiche ed economiche. Nuova serie A, 66, 471-493.

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  • Schurr, F. (2018). Trusts in Civil Law Environments. In R. C. Nolan, K. F. Low & T. Hang Wu (Eds.), Trusts and Modern Wealth Management (pp. 510-528). Cambridge.

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  • Schurr, F. (2016). Foundations: Origins and Development in Civil Law Jurisdictions. Presented at the 26th Oxford Offshore Symposium, Jesus College, Oxford University, UK.

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  • Schurr, F. (2015). Trusts in Civil Law Jurisdictions - Can civil law jurisdictions such as Liechtenstein deal with core issues of trust law?. Presented at the Modern Studies in the Law of Trusts and Wealth Management:Theory and Practice, Singapore.

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  • Schurr, F. (2017, February 1). New Trends in the International Law of Trusts - The Recent New Zealand Trust Law Review from a Comparative Perspective. Public Lecture, Wellington, New Zealand.

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  • Schurr, F. (2016, April 12). Discretionary Trusts. Liechtenstein Trust Conference 2016, University of Liechtenstein.

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  • Lakhan, M. (2015, April 28). Valid, Voidable, Void Issues of Trust Legality. Liechtenstein Trust Conference 2015, University of Liechtenstein, Vaduz.

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  • Schurr, F. (2015, April 28). Sham Trusts 2.0 International Perspective and Liechtenstein Theory of Sham Trusts. Liechtenstein Trust Conference 2015, University of Liechtenstein, Vaduz.

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