Pravo.ru quotes Olesya Petrol speaking at a private wealth management conference

16 December 2020

Olesya Petrol, a partner at Petrol Chilikov, covered the topic of inheritance and spoke about the opportunities and popular mistakes of estate planning.

“It’s not often that people turn to this tool,” the lawyer said that at least half of her clients don’t have such planning. <…>

Another notable problem is shares of spouses. The entrepreneur has to realise that if he is married, he only owns half of the business assets. This, too, needs to be taken into account in estate planning”, stressed Ms. Petrol.

At the same time, the expert advises caution with regard to the trust funds. The main problem is that there is no tradition of trust funds in Russia. Moreover, there are shortcomings in the legislative regulation of the industry, as well as tax-related difficulties.

Russian inheritance law is very young. Lawyers have to admit that they don’t know the answers to all the questions – there is a complete lack of predictability”.

Full article can be found here.