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"Svěřenský fond" - institute of intergenerational wealth preservation and succession
Skuhrovec, Michal ; Frinta, Ondřej (advisor) ; Thöndel, Alexandr (referee)
"Svěřenský fond" - institute of intergenerational wealth preservation and succession Abstract Thesis named "Svěřenský fond - institute of intergenerational wealth preservation and succession" is dedicated to describe institution of "svěřenský fond" from the perspective of a potential alternative or addition to a more traditional institutions of inheritance law. The aim of the thesis is to describe primarily its use to a purpose of family wealth preservation and succession. In order to fulfill this goal, the first part of the thesis analyses how fiducie/trust of Quebec made its way into Czech legislation. Main matter being the consequences adoption of a patrimony by appropriation caused. Second part follows historical roots of fiduciary institutes. It finds a persistent need for very similar fiduciary, trust-like institutes throughout history. The goal stays the same, a desire of families to preserve their wealth. Historical analysis, using an evolutionist paradigm, finds similarities between trust, modern fiduciary institutes and "svěřenský fond" which simply cannot be unseen. Based on this findings a hypothesis of a common ancestor is construed. Third part describes a newly acquired construction of trust-like institute, which was unseen in Czech law until 2014. It focuses on a result of transplantation of...
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Taxation of Trust Fund
Karas, Ladislav ; Boháč, Radim (advisor) ; Vybíral, Roman (referee)
The Trust Fund is for the Czech law a completely new institution, therefore its deeper legal examination and interpretation of its individual provisions is just at the beginning. It is generally regulated by the Act no. 89/2012 Sb., the Civil Code, as amended. The essence of the Trust Fund lies in the fact that the Settlor separates a specified part of his property and entrusts it to some purpose. This creates a separated property, to which has the original owner (the Settlor) no ownership rights. Management of this separated property performs the Trustee. However, he has no ownership of this property. Property in the Trust Fund does not belong to anyone, but the Trustee can dispose of it. The aim of this thesis is to comprehensively summarize and analyze the taxation of the Trust Fund according to the regulation applicable in 2014 and also after its revision in January 2015. The thesis identifies the problems and uncertainties in taxation of Trust Fund. It explains how these problems were solved by the revision of the Tax Law and in case of persisting uncertainties proposes solutions de lege ferenda. The thesis is divided into two main parts. The first part deals with the institution of Trust Fund. There is explained its essence, function and obligatory requirements. The second, main part of this thesis...
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Trust under Common Law versus the institute of "Svěřenský fond" under the new Czech Civil Code
Horn, Kryštof ; Elischer, David (advisor) ; Dvořák, Jan (referee)
The purpose of this thesis is to describe the functioning of trust in the common law jurisdictions and its expansion to the civil law countries. It also focuses on the brand new Czech institute "Svěřenský fond" (trust fund) introduced by the new Czech Civil Code and aims to analyse its nature in regard to its trust context. The thesis is composed of three chapters, each of them dealing with different set of "trust" issues. Chapter One is descriptive. It deals with the history of fiduciary relationships in the Roman, medieval, Austro-Hungarian and Czechoslovak law as well as the current statutory provisions governing administration of property of others and trust funds in the Czech Republic. It also addresses a number of current ambiguities that have arisen from the recent re-codification. The Second chapter is comparative. Part One includes introductory remarks concerning comparative law issues. Part Two describes the nature and functions of trust in the common law jurisdictions and explains the trust taxonomy. Parts Three and Four provide an outline of several mixed jurisdictions as well as civil law jurisdictions and maps their approach to trusts. Chapter Three is analytical. First part examines the theoretical discrepancies in the civil law and common law notions of property along with other...
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Trust under Common Law versus the institute of "Svěřenský fond" under the new Czech Civil Code
Horn, Kryštof ; Šustek, Petr (referee) ; Elischer, David (referee)
The purpose of this thesis is to describe the functioning of trust in the common law jurisdictions and its expansion to the civil law countries. It also focuses on the brand new Czech institute "Svěřenský fond" (trust fund) introduced by the new Czech Civil Code and aims to analyse its nature in regard to its trust context. The thesis is composed of three chapters, each of them dealing with different set of "trust" issues. Chapter One is descriptive. It deals with the history of fiduciary relationships in the Roman, medieval, Austro-Hungarian and Czechoslovak law as well as the current statutory provisions governing administration of property of others and trust funds in the Czech Republic. It also addresses a number of current ambiguities that have arisen from the recent re-codification. The Second chapter is comparative. Part One includes introductory remarks concerning comparative law issues. Part Two describes the nature and functions of trust in the common law jurisdictions and explains the trust taxonomy. Parts Three and Four provide an outline of several mixed jurisdictions as well as civil law jurisdictions and maps their approach to trusts. Chapter Three is analytical. First part examines the theoretical discrepancies in the civil law and common law notions of property along with other...
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The Introduction of Trusts in the Czech Republic
Jelínek, Tomáš ; Teplý, Petr (advisor) ; Janotík, Tomáš (referee)
Complete recodification of the Czech Civil Code among other changes establishes trusts, a very flexible tool which can be used by both natural and legal persons. Countless possibilities for the utilisation of trusts range from charities through intergenerational transfers of property or pension securitisation to the managing of a corporation and investment activities. The core of this paper is an analysis of three basic elements of trusts: the description of trusts, monitoring and analysing of the contemporary development, and perception of trusts by Czechs. The thesis contains detailed description of rights and duties of the settlor, the trustee and the beneficiary, also compares the Czech and foreign processing and then points out some differences and offers various recommendations. A fully processed questionnaire survey and analysis of the collected data is an integral part of this work. Low literacy about trusts has been discovered and its impact has been assessed. The survey results demonstrate the necessity of establishment of competitive conditions together with fighting negative perceptions towards trusts. The investigation further revealed important as well as unimportant features of trusts to potential settlors. These findings could be significant for the future development in this area....
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Business Corporation v. Trust Fund from a Creditor's Point of View
Kolenský, Lukáš ; Josková, Lucie (advisor) ; Eichlerová, Kateřina (referee)
Business Corporation v. Trust Fund from a Creditor's Point of View Abstract This diploma thesis deals with the analysis of the legislation regulating the functioning of limited companies and trust funds, specifically the issues of importance for the position of their external and residual creditors. The main goal of the thesis is to compare the mentioned entities and to gradually answer the question, which of them is more attractive for the creditor's position, and under what conditions respectively. The thesis is composed of a relatively shorter general part and of a main special part, together internally subdivided into eight partial articles. Regarding the applied methods, the thesis mainly uses analysis and comparison of domestic legal rules; the case law, mostly domestic, is quoted in order to present concrete manifestations of general rules in real instances. Following the definition of the subject of the thesis in its introduction, the general part firstly defines and examines, to the extent necessary, the concept of limited company, trust fund and the person of a creditor. In addition thereto, the thesis provides an explanation of the consequences of defects in legal acts. Special part of the thesis firstly concentrates on the issues of importance to the creditors arising in connection to the...
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"Svěřenský fond" - institute of intergenerational wealth preservation and succession
Skuhrovec, Michal ; Frinta, Ondřej (advisor) ; Thöndel, Alexandr (referee)
"Svěřenský fond" - institute of intergenerational wealth preservation and succession Abstract Thesis named "Svěřenský fond - institute of intergenerational wealth preservation and succession" is dedicated to describe institution of "svěřenský fond" from the perspective of a potential alternative or addition to a more traditional institutions of inheritance law. The aim of the thesis is to describe primarily its use to a purpose of family wealth preservation and succession. In order to fulfill this goal, the first part of the thesis analyses how fiducie/trust of Quebec made its way into Czech legislation. Main matter being the consequences adoption of a patrimony by appropriation caused. Second part follows historical roots of fiduciary institutes. It finds a persistent need for very similar fiduciary, trust-like institutes throughout history. The goal stays the same, a desire of families to preserve their wealth. Historical analysis, using an evolutionist paradigm, finds similarities between trust, modern fiduciary institutes and "svěřenský fond" which simply cannot be unseen. Based on this findings a hypothesis of a common ancestor is construed. Third part describes a newly acquired construction of trust-like institute, which was unseen in Czech law until 2014. It focuses on a result of transplantation of...
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Tax aspects of trust fund
Veverková, Tereza ; Kohajda, Michael (advisor) ; Sejkora, Tomáš (referee)
The objective of this thesis is to place trust fund into the system of tax law and the analyse of this position from different angles. The main objective is to describe, how are trust funds and the persons connected with them, taxed. One of the aims of this thesis is to show trust funds within a broader context and therefore it describes the tax aspects of English common law trust as well. Common law trust can be considered as a role model for institute like the Czech trust fund. The thesis therefore consists of two parts - trust and trust fund. The first chapter describes historical development of trusts and illustrate how was this development influenced by then tax legislature. Also, this chapter explains some aspects of English law, with focus on difference between common law and equity. The grasp of the difference between these parallel systems is essential for the understanding of trust. The second chapter deals mainly with substantive aspects of trust. It strives to answer the question, what is trust and how can we definite it. It also shows, how the tax legislature defines trust and connected person for tax purposes. It is also briefly mentioned the duty of trust to register into newly established trust register. The third chapter deals with taxation of trust itself. Different types of trusts and...
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Trust under Common Law versus the institute of "Svěřenský fond" under the new Czech Civil Code
Horn, Kryštof ; Šustek, Petr (referee) ; Elischer, David (referee)
The purpose of this thesis is to describe the functioning of trust in the common law jurisdictions and its expansion to the civil law countries. It also focuses on the brand new Czech institute "Svěřenský fond" (trust fund) introduced by the new Czech Civil Code and aims to analyse its nature in regard to its trust context. The thesis is composed of three chapters, each of them dealing with different set of "trust" issues. Chapter One is descriptive. It deals with the history of fiduciary relationships in the Roman, medieval, Austro-Hungarian and Czechoslovak law as well as the current statutory provisions governing administration of property of others and trust funds in the Czech Republic. It also addresses a number of current ambiguities that have arisen from the recent re-codification. The Second chapter is comparative. Part One includes introductory remarks concerning comparative law issues. Part Two describes the nature and functions of trust in the common law jurisdictions and explains the trust taxonomy. Parts Three and Four provide an outline of several mixed jurisdictions as well as civil law jurisdictions and maps their approach to trusts. Chapter Three is analytical. First part examines the theoretical discrepancies in the civil law and common law notions of property along with other...
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Trust under Common Law versus the institute of "Svěřenský fond" under the new Czech Civil Code
Horn, Kryštof ; Elischer, David (advisor) ; Dvořák, Jan (referee)
The purpose of this thesis is to describe the functioning of trust in the common law jurisdictions and its expansion to the civil law countries. It also focuses on the brand new Czech institute "Svěřenský fond" (trust fund) introduced by the new Czech Civil Code and aims to analyse its nature in regard to its trust context. The thesis is composed of three chapters, each of them dealing with different set of "trust" issues. Chapter One is descriptive. It deals with the history of fiduciary relationships in the Roman, medieval, Austro-Hungarian and Czechoslovak law as well as the current statutory provisions governing administration of property of others and trust funds in the Czech Republic. It also addresses a number of current ambiguities that have arisen from the recent re-codification. The Second chapter is comparative. Part One includes introductory remarks concerning comparative law issues. Part Two describes the nature and functions of trust in the common law jurisdictions and explains the trust taxonomy. Parts Three and Four provide an outline of several mixed jurisdictions as well as civil law jurisdictions and maps their approach to trusts. Chapter Three is analytical. First part examines the theoretical discrepancies in the civil law and common law notions of property along with other...
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