Rich Russians will be able to enter their name in history, having established a prestigious prize

From September 1, 2018, the law on the creation of hereditary funds will enter into force in Russia. This is a way of managing property, business and capital that remain after the death of the testator, writes the Russian Newspaper .

The hereditary fund can be aimed at solving some public problems: sports support, assistance to science, charitable projects, and so on. Inheritance funds will be established through a notary.

“The hereditary fund is an important tool for the preservation and development of assets, business, property that, after the death of the testator, will be able to be transferred to the Department of the Fund,” the chairman of the State Duma committee on state construction and legislation Pavel Krasheninnikov explained. “Thus, the problem of“ lying inheritance ”may be resolved, in which everything that was necessary for the acceptance of the inheritance could happen with the assets, everything that succeeded.”

The proposal is relevant for not just wealthy, but very rich people, although both company employees and the state as a whole are interested in maintaining their conditions after death.

Some domestic billionaires will definitely use this opportunity, the newspaper believes.

"The hereditary fund will be created and function after the death of a citizen -employer and in accordance with the conditions that he himself will determine," explained Pavel Krasheninnikov.

Details about how everything will work, reported at an annual conference on the relevant development of hereditary law in Russia, a member of the board of the Federal Notarial Chamber Alexander Ignatenko.