The Principality of Liechtenstein is the only continental European country to have included the common law trust in its legal system (PGR).
Similar to the foundation, the trust can be used to secure assets over the long term and to settle the estate of the settlor.
The trust is established by assigning assets to a trustee, subject to the condition that these assets will be administered in accordance with the wishes of the settlor, with any dividends benefiting specific individuals or institutions. The trust may at any time acquire stakes in companies or real estate and exercise holding functions.
Although the trust is not a legal entity as the foundation holding the assets, but a contractual relationship with the trustee, the assets assigned to the trustee no longer form part of the assets of the settlor but become assets of the trust.
The settlor can designate himself as the beneficiary during his lifetime, and can choose how the assets are to be used after his death.