Austria: Private foundations in Austria—between consolidation and reform

Abstract

Austrian private foundation law, which was 30 years old in 2023, is currently going through a phase of consolidation. Private foundations are also a constant concern for the Austrian courts in conflict situations. In this article the authors take a closer look at the Austrian private foundation as an instrument of asset protection in case of divorce, the interpretation of foundation documents, and the composition of a possible council. They also make an assessment of the way ahead.