WINHELLER ATTORNEYS AT LAW | Private Foundations

Corneliusstr. 34
D-60325 Frankfurt a.M.

Mon.-Sun. from 8am to 8pm
Tel.: +49 (0)69 76 75 77 80
E-mail: info@winheller.com

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Mail to Petra Oberbeck

Background
Private foundations are booming in Germany. Every year, several hundred new private foundations are created in this country. A growing number of people consider to create private foundations, especially those who have made a good amount of money in their lives and think about spending it for good purposes later.

The creation of a private foundation can be motivated by many reasons, for example:
- Preserving the family estate for generations
- Keeping alive the memory of the founder and his/her vision and goals
- Helping society and others to reach their goals
- Taking advantage of certain tax benefits (gift tax, estate tax, income tax, etc.)

Charitable private foundations
Charitable private foundations are a vital part of our society. Their goal is to foster objectives that are to the benefit of the society as a whole. Generally, tax law treats such foundations very favorably. Also, it is up to the founder alone, which purposes he/she wants to foster with the foundation, even beyond his/her death.

Often, the joy of giving back to others and the sense of doing something very meaningful is one of the greatest gifts one can have during the final period of a lifetime. Maximization of profits changes to a maximization of fostering charitable purposes to the benefit of others.

Non-Charitable Foundations; Non-Charitable Foundations whose purpose it is to support a specific family; diversified forms
A minority among German private foundations is non-charitable. One special form of such non-charitable foundations is the one who follows the purpose to support a specific family. Other "diversified" forms of such foundations try to support their own family while at the same time certain elements of the foundation are structured to help society as a whole.

Tax law needs to be very carefully analyzed in these situations so that the foundation can be formed in the most cost-efficient way possible.

Legal Consulting and In-Court Representation
Winheller Attorneys at Law have specialized in offering legal counsel on nonprofit and charitable issues. We will analyze for you all legal aspects of creating the right form of foundation that corresponds with your personal needs and goals.

Not only money can be contributed to a private foundation, but also real estates, paintings and other valuable property. We will advise you about all available tax benefits (gift tax, estate tax, income tax, etc.) and formally implement the form of foundation for you that will perfectly meet your goals.

We give legal advice in the following areas:
- Creating private foundations (charities, non-charitable foundations, diversified forms)
- Choosing the right German state for your head office or principal establishment
- Advising you on the different laws of private foundations in all 16 German states
- Taking advantage of certain tax benefits (gift tax, estate tax, income tax, etc.)
- Questions concerning successions of private foundations
- Fundraising in Germany and abroad
- Questions concerning personal and asset management of private foundations