Kira Egorova and Ekaterina Vasina from ALRUD’s private client practice prepared an analytical article for the June issue of STEP Journal. The article is about estates – a novelty in the Russian law of succession to take effect on 1 September 2018 and enable more efficiently transferring business assets by way of succession, taking account of the capital owner’s will in managing such assets in contingencies and reducing the deadlines for accepting inheritance. ALRUD’s lawyers describe advantages and drawbacks of estates, as well as bottlenecks that the estate-leaver and his/her legal successors may encounter in using such instrument.
Society of Trust and Estates Practitioners (STEP) is one of the largest international associations combining such private wealth experts, as advisors, trustees, administrators and representatives of family offices and investment funds. ALRUD is a member of STEP.