In the state Duma a bill on the creation mechanism of inherited funds

© RIA Novosti / Natalia to Seliverstova in photobacteria of the State Duma of the Russian Federation. Archival photoIn the state Duma a bill on the creation mechanism of inherited funds© RIA Novosti / Natalia to Seliverstova the image Bank

The draft law establishing the mechanism of hereditary institutions of funds that may be established in Russia from September 1 this year, the state Duma, the press service of one of the authors of the initiative, the head of the state Duma Committee on state construction and legislation Pavel Krasheninnikov (United Russia).

The state Duma in the summer of 2017 passed a law providing for the creation in Russia of a special hereditary funds, which can be used for the transmission of property by inheritance, by analogy with the Western European funds. As stated Krasheninnikov, the author of the draft law, the document empowers citizens on the issue of the disposition of their property after death.

The project proposes to amend the legislation on notaries, the law on state registration of legal entities and individual entrepreneurs and other legislative acts. The project, in particular, determines the procedure of the notary for the establishment of the hereditary estate after the death of a citizen-of the testator specified in his will the will to create such a Fund.

«The inherited Fund is an important tool for the preservation and development of the property, business, assets, who, after the death of the testator will be transferred to the management Fund. Thus can be solved the problem of «the lying inheritance» in which six months is required for acceptance of the inheritance, assets could happen anywhere» — quoted Krasheninnikov his press service.

As noted, from the property or from the hereditary revenues of the Fund are to be made payments to persons specified by the testator in the will. Moreover, payments can be made and others that will be determined by the Board of Trustees or other Council Fund that will help implement the will of the deceased on the exercise of charity.

According to Krasheninnikov, the bill is necessary for the full functioning of the new Russian law of succession Institute — hereditary Fund. As noted by the MP, the initiative will expand opportunities for disposal of its property in case of death, to preserve and develop the assets of the testator after his death, provides financial support to certain of the testator.

«Now is the opportunity to establish a hereditary funds or trusts are in many countries of the world, and it often happens that Russian entrepreneurs are forced to transfer your business offshore, to establish a Fund to address issues in the disposition of assets after death. Therefore, the creation of hereditary funds in Russia will increase the attractiveness of the Russian jurisdiction, — said Krasheninnikov.