Services and offer on divorce law
The foundations & trusts in Austrian law
The Austrian private foundation under the Austrian Foundations & Trusts Act (PSG) often serves to secure and manage family assets in the long term. With the transfer of assets to the foundation, the founder basically gives up his power of disposal over the transferred assets. Assets that have already been transferred to a private foundation are therefore no longer owned by the donating spouse, but by the foundation, which is managed by independent foundation board members in accordance with the defined purpose of the foundation. A foundation has no "owners" (i. e. No "partners" or "shareholders"), but it does have beneficiaries who can receive benefits from the foundation's assets or income.
Private foundation assets in the event of divorce
The special characteristics of foundations & trusts described above mean that the assets contributed to the foundation are not automatically part of the assets to be divided in the course of the divorce, as the founder is no longer the "owner" of the assets contributed. In the case of divorces, the question therefore regularly arises as to whether and to what extent the assets contributed to the foundation should be included in the division. In individual cases, it is therefore necessary to examine whether the establishment of the foundation served as a circumvention transaction or whether the foundation is used in a way that in fact exclusively benefits one spouse.
A foundation reference can also be relevant for questions relating to post-marital spousal support, in particular with regard to ongoing benefits that may have an influence on post-marital maintenance payments.
The answers to these questions are complex in detail and have so far only been partially clarified by the highest courts. In the event of a divorce involving a foundation, it is therefore necessary to carefully examine which rights and claims the spouses are entitled to.
Our special expertise in foundation law
As a commercial law firm with a special focus on the Foundation law we constantly represent around 35 Austrian foundations & trusts. This ongoing activity has given us in-depth knowledge and many years of practical experience in this highly specialized area of law. This expertise makes us particularly qualified when questions relating to foundation law arise during a divorce, as a divorce involving foundations requires more than general family law advice. Only those who are familiar with the structures of a foundation, the typical forms of organization and the associated case law can realistically assess the legal and economic consequences.
Our clients benefit from the fact that we incorporate both the family law and foundation law perspectives into our advice. The lawyers at GIBEL ZIRM will guide you through the entire divorce proceedings, both in and out of court, and ensure that your rights in relation to the foundation and the division of assets are protected.
