Only a few founders have so far made provisions in their foundation documents for the event of possible insolvency. Nevertheless, especially due to the advancing age of the first generation of founders, this is a very important issue that should be addressed in order to take the necessary “precautionary measures” under foundation law in a timely manner, while you can still influence the design of the foundation.

 

It is not uncommon for the founder to ultimately appoint an administrator for the founder due to a lack of appropriate specific precautions. Sometimes neither the founder, his relatives nor the foundation bodies can influence the person of this trustee.
If the trustee is also appointed for property matters, this usually also includes the exercise of the founder’s rights. However, these founder rights are subsequently exercised by a trustee exclusively or primarily in accordance with the interests of the trustee. The original intentions of the founder, which underpinned the establishment of the foundation, are sometimes neglected or put aside. In practice, we know of a case in which a private foundation was dissolved by the trustee against the founder’s originally clearly expressed contrary wishes.
If a founder, on the one hand, wants to prevent an administrator from outside the foundation from exerting influence on the private foundation and, on the other hand, wants to prevent all of the founder’s rights from being suspended or lost in the event of his incapacity, it has been possible for several years to establish a corresponding power of attorney.
If you are interested in such a power of attorney solution, which can also make sense apart from private foundation arrangements, you can find it in Long text the relevant information.Our foundation team will of course be happy to advise you at any time!

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