Good to invest in the family

Where did the idea for family foundations come from and can you explain in basic terms how they work? Michał Kwaśniewski, a partner of tax consultancy Quidea: These types of foundations are common in other countries, such as Liechtenstein, Austria, the Netherlands and Malta, and are intended to be used by people who have set up businesses but are retiring or want to stop what they are doing and pass their company onto someone else while protecting their own wealth. Up until now, there was no tool in existence in Poland for doing this. Of course, there have always been legal bequests and inheritance, but these options are not always sufficient. After all, we can never be sure that our children will want to run the family company and, of course, not everyone has the talent to do this. The wealth passed on through a family foundation can include such property as material and non-material goods or legal property of value, such as stocks and shares in an investment fund, including real e