Theoretical and legal characteristics of personal funds

Abstract

With the introduction of the concept of “personal fund” in the legal field of the Russian Federation, a transformation of the fund institution as a whole has taken place. In the article, mostly by comparison, the authors analyze and characterizes a personal fund in a theoretical and legal aspect and highlights its differences from other funds, examining in detail the legal structure of a personal fund, its features and regulation. In particular, the article highlights the issue that a personal fund is a non-profit organization that manages the property of an individual. At the same time, its main function and goal is not solving social problems to support society, which has always been inherent in publicly beneficial funds.  A personal fund, rather, can be characterized as a new form of the hereditary fund that preceded it, but valid during the lifetime of the founder. The author, relying on the work of modern researchers, draws attention to a number of points that can be considered problematic from the point of view of legal regulation, which will require further elaboration of the law, on the basis of which the conditions for creating personal funds appeared in Russia.