Important change for asset management foundations

As of September 1, the concept of “trust management” has been abolished for asset management foundations and replaced by “long-term asset management.” This is not just a change in terminology but a significant legal shift that affects both the operation of foundations and the practice of financial institutions.

The rules of long-term asset management are no longer governed primarily by the Civil Code but instead by the Act on Asset Management Foundations. The new system simplifies and makes the ownership structure of managed assets more transparent, as the foundation itself is recognized as the owner. While the tax advantages remain unchanged, long-term asset management provides stronger support for asset protection and intergenerational wealth transfer.

For this reason, all affected foundations and financial service providers should review their existing practices and make adjustments where necessary.

For details, please contact us.

Managing Partners Dr Gábor B. Szabó and Dr Ákos Menyhei have been recognized in the Chambers High Net Worth Guide 2025!

This year, Dr Ákos Menyhei has been ranked for the ninth consecutive time, while Dr Gábor B. Szabó has earned his sixth recognition in this prestigious guide – a testament to their dedication, expertise, and the trust of our valued clients.

Dr Ákos Menyhei – Band 1, Private Wealth Law – Hungary

Dr Gábor B. Szabó – Band 2, Private Wealth Law – Hungary

We are proud to see their consistent excellence acknowledged once again, reinforcing our firm’s ongoing commitment to delivering the highest standard of service to high-net-worth clients and families.

The Legacy of Art Collections: Dr. Gábor B Szabó at the Art is Business Event

The latest edition of the Art is Business “Connections” series, focused on the challenges and solutions surrounding the multi-generational legacy of private art collections. We are proud that Dr. Gábor B Szabó, Managing Partner at Primus Wealth, had the opportunity to represent our firm at this insightful roundtable discussion.

The conversation highlighted the need to harmonize legal, emotional, and cultural aspects when passing down art collections. Dr. B Szabó emphasized that long-term value preservation requires conscious planning — for instance, through foundation structures or family constitutions. Collections become true legacies only when they continue to live on not just as physical objects, but as enduring values embraced by future generations.

We thank the Art is Business team for the invitation and for organizing such a meaningful event!

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STEP Hungary Conference – Challenges of Wealth and Estate Planning in Uncertain Times

On March 21, the 𝐒𝐓𝐄𝐏 𝐇𝐮𝐧𝐠𝐚𝐫𝐲 𝐂𝐨𝐧𝐟𝐞𝐫𝐞𝐧𝐜𝐞 brought together top experts from Hungary and across Europe to share their insights. The event featured insightful discussions, including two panels moderated by our managing partners.

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STEP Europe Conference 2024

This year’s STEP Europe Conference 2024 was held in Monaco, bringing together leading experts from across the region to discuss the latest developments and challenges in trusts and estates. Representing Primus Wealth at this high-profile event were our Managing Partners Dr. Gábor B. Szabó and Dr. Ákos Menyhei.

Dr. Menyhei actively participated in a thought-provoking panel session titled “Help! I Don’t Trust My Trustee Anymore. What Can I Do?” The session focused on the sensitive issue of trustee removal, a topic that often arises in complex trust relationships. Together with a distinguished group of panelists from diverse regions, Dr. Menyhei explored practical strategies and shared insightful perspectives on navigating these challenging situations.

Trust Laws in the Czech Republic and Hungary

We are proud to announce the publication of Trust Laws in the Czech Republic and Hungary, co-authored by Dr Gábor B. Szabó and Dr Ákos Menyhei together with other esteemed colleagues. This landmark book marks a significant milestone as both Czech and Hungarian trusts celebrate their 10th anniversary in 2024.

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Art Collections – Preservation and Growth Across Generations, Wealth Management, and Inheritance

We are proud to share that Mr Gábor B. Szabó, Managing Partner of Primus Wealth, was keynote speaker at the Asset Management and Inheritance panel of the first International Art Law Conference in Budapest. In his presentation he shared his expertise on the unique challenges of managing private art collections across generations. His insights provided valuable guidance for collectors, wealth managers, and legal professionals alike. You can read his full presentation here.

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Managing partners Dr B. Szabó and Dr Menyhei honored in Chambers High Net Worth Guide 2024

We are happy to announce that Dr Gábor B. Szabó and Dr Ákos Menyhei have once again been recognized in the Chambers High Net Worth Guide 2024. Dr B. Szabó has been honored by Chambers & Partners for the sixth consecutive year. Dr Menyhei has achieved the distinction of being ranked as a first-rate High Net Worth (HNW) advisor for the eighth consecutive year.

We take immense pride in the recognition received by our colleagues, as it reaffirms our unwavering commitment to excellence and client satisfaction.

Inspiring Excellence in Wealth Management:
Highlights from the STEP Europe Conference in Budapest

Professionals from Europe and around the world converged in Budapest on October 12-13, 2023, to attend the STEP Europe Conference. This prestigious event was organized jointly by STEP Europe and STEP Hungary, both integral components of STEP, a global professional body with more than 21,000 members.

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Chambers & Partners ranked dr Ákos Menyhei and dr Gábor B. Szabó managing partners as first-rate lawyers

We are delighted to announce that Dr. Ákos Menyhei and Dr. Gábor B. Szabó, managing partners of Primus Wealth S.A., have been ranked as first-rate High Net Worth (HNW) advisors by Chambers & Partners for seven and five consecutive years, respectively.

We take immense pride in the recognition received by our managing partners, as it reaffirms our dedication to excellence and client satisfaction.