Much has been said and written about the trust, but this legal institution is often still seen as an unknown. After initial enthusiasm, its use has declined considerably. There are many practical reasons for this.

This does not detract from the fact that the trust can still have profiles of great utility in solving concrete problems, which is why it is important to illustrate its characteristic elements:

- The trust was introduced into our legal system by Law No. 364 of October 16, 1989, in ratification of the Hague Convention of July 1, 1985.

In fact, it is a legal relationship created by a person-possibly even through a will-through which certain assets of that person, called the "settlor," are placed under the "control" of a trustee, in the interest of a beneficiary or for a specific purpose (Article 2 of the Convention).

Upon entering into the trust, the trustee undertakes to administer the assets in trust according to the program established by the settlor.

The main effect of the trust is the segregation of assets in the estate of the trustee, to whom these assets are transferred. A true separate estate is thus created, which could also formally remain in the settlor's ownership, the so-called self-declared trust now being permissible.

The trust has many complexities and facets, and especially practical applications that make it a useful tool even in the area of inheritance, just to give one example.

Our firm can provide you with clear and factual explanations, and advise you according to your actual needs.