The aim of this study is to provide a comprehensive presentation of the peculiarities of private foundations in certain legal systems. The study reviews the formation of private foundations, their current legal background and change trends. The research covers the features of certain characteristics of private foundations, such as the establishment and operation of the various bodies. Particularly important factors include the possibility of economic activity at private foundations, the regulations related to the necessary assets, and state supervision. The legal background of private foundations in many cases provides an opportunity to compete with trusts and business companies, especially in terms of planning, managing and protecting assets as well as enabling generational asset transfers.