Certain clients may prefer to use Foundations instead of Trusts in their wealth planning and it is possible to achieve similar objectives with either vehicle.
Foundations offer flexibility and opportunity in some situations and there are generally fewer obligations towards beneficiaries, which can be an advantage. This can facilitate the holding of certain asset types which might cause problems for Trustees, who may have rather strict investment obligations.
Foundations are based on Civil Law principles and offer the client the ability to have a formal status as member of the decision-making Council within the Foundation. The Council has day-to-day responsibility for seeing that the Foundation continues with the objectives set out in its statutes.
