French “Fiducie”

"Fiducie" is a French law concept, defined as a contract by which a company (the Settlor) transfers assets or rights to another person (the Trustee) who holds these separate from his own property for the benefit or one or more Beneficiaries.

It is therefore an asset protection technique.

Within families, "Fiducie" allows to maintain family property and assets when confronting certain incidents:

• Protected adult,
• Divorce,
• Managing young persons’ wealth,
• Asset protection against future creditors,
• Etc.

Since 2014, Duo Legal practices as fiduciary (Article 2015 § 2 of the French Civil Code, for missions of security (“fiducie-sûreté”) or asset management (“fiducie-gestion”).
To transfer movable or immovable assets in a fiducie, the Settlor must be advised by a third qualified lawyer, notary or academic. This third party cannot be a member of Duo Legal and prepares the fiducie contract with Duo Legal.

The assets in fiducie are unseizable. A specific accountancy and an additional risk insurance are also required.

Duo Legal operates under the rules of professional conduct applicable to French avocats, including full independence and the prohibition of conflicts of interest or fee-sharing.