Asset protection is an essential consideration within the overall process of estate planning. Estate planning involves the management and distribution of one's assets during their lifetime and after death.
The wealth management foundation regime was introduced into Hungarian law in March 2019 as a new asset protection and estate planning vehicle, which should serve as an alternative to similar foreign structures.
The Hungarian Parliament has voted in favor of a bill to introduce a new form of asset management foundation (‘vagyonkezelő alapítvány'), which will serve as a special type of investment vehicle.