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New succession mechanism – inheritance funds introduced into Russian law

DATE: August 10, 2017 | AUTHOR: atlawyers

The circle of heirs under the will now include inheritance funds. An inheritance fund shall be incorporated after a person’s death, if specified in the will, to manage the estate for the benefit of third parties. The fund is entitled to gain the certificate of inheritance prior to the expiration of six-month term since the inheritance was commenced. Any alteration of fund and property management is not permitted after its incorporation.

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