Foundations and Charitable Organizations
The purposes of a foundation can lie in a variety of areas but they are often in the area of fine art. Family foundations also lend themselves as a possibility for a tax-efficient succession arrangement (key word: double foundation (Doppelstiftung)). As experienced Advisers on the law governing foundations we help our clients with setting up foundations and assist them with any legal and tax questions concerning foundations such as, for example, the maintenance of a foundation’s charitable status, the administration of trusts, foundations under public law or contributions towards an existing endowment. In some cases – because of the importance of the foundation (an example is the foundation: Stiftung Schloss und Park Benrath in Düsseldorf) – we carry out an annual audit.
Once they have been established, we continue to look after many foundations as long-term clients. In some cases we are also on the Board of Governors.