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The Law of Foundations: Independent Consultation for Foundations
Independent, client-oriented and loyal Consulting Services for Foundations
The boom in private charitable organizations and foundations continues uninterrupted in Germany. Each year in Germany, hundreds of new legally-recognized foundations are formed. More and more people are considering foundations as they contemplate what to do with the wealth they have accumulated during a career in a firm or as entrepreneur. The reform of the law of charitable organizations and foundations that took place in 2007 fueled the trend by conferring tax advantages on those who pursue this course of action. With the growth in foundations comes increased demand for qualified expertise in this area of the law.
WINHELLER Attorneys at Law can be your competent, loyal, and independent advisors in matters of the law of foundations, and are pleased to accompany you as you develop your charitable endeavors. We are accountable only to your interests. This distinguishes us from other charitable consultation providers such as banks or asset advisors, which make money from the administration fees and who therefore may lean toward advising clients to start a foundation rather than pursue other options. However, it is of no concern to us whether you choose to start a foundation or not. Our sole concern is whether starting a foundation is the right choice given your individual life situation and your needs and goals. We think outside the box, and “can do more than just foundations”. We would be happy to explore alternatives to conventional foundations, and will explain the tax possibilities of each one.
Competent Advice on the Law of Foundations
WINHELLER Attorneys at Law specializes in consultation on matters of the law of foundations. We will evaluate whether starting a foundation is the right choice for you and, if so, will tailor the foundation to your personal life situation and that of your relatives. If you choose to start a foundation in another country, we will work closely with colleagues in that country.
Consultation in matters of foundations law is as individual as your personal life situation. WINHELLER Attorneys at Law provide expert assistance in all questions relating to the subject of charitable and non-charitable foundations.
In particular, we can help with the following:
- Deciding whether creating a charitable foundation makes sense, compared with alternative wealth disposition options,
- Creating a foundation (charitable foundation, family foundation, business foundation, foundation trust, mixed forms, etc.),
- Choosing the right location (German State, Germany or in a foreign country),
- Questions on the law of foundations and on regulatory agencies in German states,
- Taking advantage of all the tax benefits of a foundation, with regard to income tax, gift tax, and inheritance tax issues,
- Other related special tax considerations relating to charitable organizations (for example, substitute inheritance tax, withholding tax, taxability of dividends, taxability of business activities, sales tax discounts, etc.),
- Choosing a strategy for reducing or eliminating the so-called substitute inheritance tax,
- The extent to which a foundation is a suitable vehicle for business succession,
- Questions about fundraising and endowment contributions,
- All questions of the law of foundations and the tax laws that arise in relation to the day-to-day operation of the foundation, and
- The choice of a profitable yet legally sound investment strategy, as well as the administration and protection of the foundation's assets.
Accounting, Tax Advice, and Fundraising
We consider ourselves a one-stop shop for foundations. Aside from legal and tax advising, we offer further services either directly or from cooperating experts. Our accountants can, for instance, help you set up an accounting system, produce yearly reports, and generate grant and donation documentations – all in compliance with the law of foundations and nonprofit tax law. From a financial perspective, we will be happy to refer you to fundraising specialists who will work closely with you on issues such as soliciting donations and other third-party funding for your foundation.
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