Stiftung
A stiftung (German: [ˈʃtɪftʊŋ] ) (properly Stiftung, pl. Stiftungen) is an institution/foundation which, with the aid of a property, pursues a purpose determined by the founder. A stiftung foundation exists to give effect to the stated, non-commercial wishes of its founder, as set out in a foundation deed and the articles of association (statutes). In effect, the assets with which the foundation is endowed become a separate legal entity. A stiftung foundation has no shares or members and is set up by a founder(s) in most cases to ensure the continuation of family assets.A stiftung foundation can have beneficiaries, and in that way they are in some way similar to the common law notion of trusts.