ASSET FUND, TRUST AND FIDUCIARY CUSTODY

All of the tools to segregate assets

Tools for the protection of assets means those Italian or foreign legal institutions (for example, trust fund, fiduciary custody, deed of real estate destination, family foundation), from which the segregation effects of the assets of a natural or a legal person are derived.

It is worth noting that there are no asset protection tools, but rather the protective effects which derive from the application of these existing legal institutions. In particular, the general rule is contained in art. 2740 of the Civil Code: "The debtor responds to the fulfillment of obligations with all of his present and future assets. The limitations of liability are not permitted except in cases established by law."

The tools for safeguarding assets, however, allow you to access the aforesaid limitations of responsibility, at least by limiting them to certain credit categories by the remedies of executive action.

Studio Notarile Grumetto provides assistance and advice with regard to all possible tools for the segregation of assetsof a natural or legal person, with particular reference to the establishment of a trust, the establishment of property fund, fiduciary custody, the notarial deed of destination, to the establishment of a family foundation...

Subjects exposed to the risk of an action for damages or debt collection are:

  • the individual entrepreneur;
  • the partner with unlimited liability;
  • the administrator of a corporation;
  • the mayor or the auditor of companies and organisations in general;
  • all of those engaged in "dangerous" activities (e.g., a medical doctor).

FURTHER INFORMATION

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