Usaldusühingus

Usaldusühingus, often translated as a trust or fiduciary association, is a legal form of business organization primarily found in Estonia. It is characterized by a structure where one or more persons, known as founders (asutajad), entrust assets to another person or entity, the trustee (usaldusosanik), for the benefit of one or more beneficiaries (kasusaajad). This legal arrangement establishes a fiduciary relationship, meaning the trustee has a legal obligation to act in the best interests of the beneficiaries.

The founders define the terms of the trust through a trust deed (usalduslepingu), which outlines the assets being entrusted, the beneficiaries, the powers and duties of the trustee, and the duration of the trust. Usaldusühingus can be established for various purposes, including estate planning, managing assets for minors or individuals with disabilities, charitable giving, or investment purposes. The trustee is responsible for managing and administering the entrusted assets according to the terms of the trust deed and applicable Estonian law. This includes investment, distribution of income or capital, and maintaining proper records. The liability of the trustee is typically significant, as they are held to a high standard of care and loyalty. Usaldusühingus offers a flexible framework for asset management and wealth transfer, providing a degree of control for the founders while entrusting the administration to a designated party.