The statute must contain a specification of the beneficiary/beneficiaries or a method for designating such a beneficiary/beneficiaries. Any natural person or legal entity may become a beneficiary. The statute may specify that if a specific person is not eligible to become a beneficiary (e.g. due to death or not satisfying specified conditions), another person will become a beneficiary. The statute will thus define a set of entitled individuals who will become or may become beneficiaries of the trust fund in the future. Pokračovat ve čtení „Beneficiary“
The trustee has the full authority to administer/manage trust fund assets. Any person with legal capacity may become a trustee. A legal entity may become a trustee only if the law explicitly allows this. The trustee is obliged to look after and increase fund assets and to fulfil the purpose of the fund. He/she can invest fund assets, but always within the scope of careful management and in light of any restrictions specified by the statute. Pokračovat ve čtení „Trustee“
The founder of the trust fund can be any legal entity or natural person sui juris, either domestic or foreign.
The founder can also concurrently be a trustee and beneficiary.