Liechtenstein: How to protect the assets of a Liechtenstein foundation from the onslaught of creditors and forced heirs

Whether a creditor can seize assets which actually should have been part of a debtor's (bankruptcy) estate but had previously been transferred into a Liechtenstein private foundation, and whether those conveyances are likely to be subject to challenge by the founder's heirs, mainly depends on when the transaction was actually executed and whether the founder had reserved particular rights in order to maintain considerable influence on the foundation and its assets. This article explores how to provide for reserved powers in order to avoid such challenges, and how to implement adequate protection measures against creditor clawbacks or attacks by the founder's heirs.