Foundations and trust funds in the Czech Republic after the recodification of Civil Law : a step forward?

RONOVSKÁ, Kateřina and Petr LAVICKÝ. Foundations and trust funds in the Czech Republic after the recodification of Civil Law : a step forward? Trust & Trustees. Oxford University Press, vol. 21, No 6, p. 639-644. ISSN 1363-1780. doi:10.1093/tandt/ttv053. 2015.

Basic information

• Original name: Foundations and trust funds in the Czech Republic after the recodification of Civil Law : a step forward?
• Authors: RONOVSKÁ, Kateřina (203 Czech Republic, belonging to the institution) and Petr LAVICKÝ (203 Czech Republic, belonging to the institution).
• Edition: Trust & Trustees, Oxford University Press, 2015, 1363-1780.

Other information

• Original language: English
• Type of outcome: Article in a journal
• Field of Study: 50501 Law
• Country of publisher: United Kingdom of Great Britain and Northern Ireland
• Confidentiality degree: is not subject to a state or trade secret
• WWW: Repozitář MU
• RIV identification code: RIV/00216224:14220/15:00084406
• Organization unit: Faculty of Law
• Doi: http://dx.doi.org/10.1093/tandt/ttv053
• UT WoS: 000360354300010
• Keywords (in Czech): nadace; nadační fond; svěřenecký fond; občanské právo
• Keywords in English: foundation funds; foundations; trust funds; civil law
• Tags: rivok
• Tags: International impact, Reviewed

Abstract

Although the major social and political changes happened more than 25 years ago, the Czech Republic is still in a ‘transformation stage’ of its legal system. The New Civil Code, in effect from 1 January 2014, has introduced new possibilities in the area of administration of assets, giving rise to a whole range of legal instruments: foundations (‘nadace’), foundation funds (‘nadační fond’), trust funds (‘svěřenský fond’), and additional legal forms of an obligatory nature. The norms of international private law have also enabled the recognition of foundations, trusts, and similar foreign trust-like structures in the Czech Republic. This article briefly outlines the fundamental characteristics of the new legal framework and summarizes first reactions, based on experience with the new regulation.