Family foundations - an effective way to succession of wealth

What are family foundations?

Family foundations are an increasingly popular solution for asset succession and capital preservation in Poland. It is a special legal form that allows assets to be effectively managed and passed on to the next generation without being distributed. FLOWER ACCOUNTING supports entrepreneurs and individuals in the process of setting up and running family foundations by providing a comprehensive accounting service.

How does a family foundation work?

A family foundation is a legal entity set up by a founder to manage assets and pursue specific objectives. It may, among other things:

• Accumulate and multiply family assets.
• Disburse funds to family members (beneficiaries) in accordance with the adopted statute.
• Protect capital from division or external claims.

Who can set up a family foundation?

The founder of a family foundation can be an individual who contributes assets and sets the rules for their use. Beneficiaries can be family members, but also other designated individuals or organisations.

Benefits of a family foundation

1. asset protection and long-term management

Family foundations allow assets to be protected from uncontrolled distribution, which is particularly important for large families and family businesses.

2 Favourable tax arrangements

If properly planned, a family foundation can benefit from preferential tax arrangements, reducing the fiscal burden on beneficiaries. FLOWER ACCOUNTING offers support in tax optimisation and compliance.

3. maintaining business continuity

With a family foundation, entrepreneurs can ensure the stability and liquidity of the business for generations to come, without having to sell assets or distribute shares.

Frequently asked questions about family foundations

What are the requirements to establish a family foundation?

In order to set up a family foundation, a foundation deed or will of the founder must be drawn up, the foundation must be registered in the register of family foundations and a minimum initial capital must be provided.

Can a family foundation run a business?

Yes, but to a limited extent. A family foundation can invest in real estate, make loans to beneficiaries and hold shares in companies.

How can KWIATKOWSKY ACCOUNTING help you set up a family foundation?

We offer comprehensive support including legal and tax advice, foundation registration and ongoing accounting services.

How to set up a family foundation?

The process of setting up a family foundation involves several key stages:

1. Drafting of the statutes - to define the foundation's rules.
2. Registration with the court - formal establishment of the foundation.
3. Contribution of capital - transfer of assets to the foundation.
4. Accounting and tax services - day-to-day financial management, 

If you would like to find out more about family foundations and their benefits, please contact FLOWER ACCOUNTING - We will assist you in every step of setting up and running your foundation!