FL
Inheritance and Family Law
ONTIER SPAIN

Successory Planning in an Asset Business



Problem

Various clients, the owners of an important business estate, wanted to plan the succession causa mortis in such a way that part of their goods would remain in their family line in order to provide for the eventual needs of their grandchildren; additionally taking into account the necessity to guarantee some income in favour of a third party was contemplated to whom they would distribute during their life part of their goods, and finally analysing the tax implications of each one of the options that were contemplated or offered.



Solution

Prior to the detailed analysis of the estate of the testators, trusts formulas and clauses of prohibition to dispose certain items in order to be able to cater to part of the suggested needs were articulated, without prejudice to the legitimate rights of the mandatory heirs, which clearly indicated the worthy interests of protection that justified the imposition of the prohibitions to be arranged; they were articulated at the same time as various proposals for testamentary clauses (with bequests, substitutions, prohibition to have judicial intervention in the partition, etc...) that would permit, when necessary, a distribution of the inheritance in a way that might prevent partitional controversies, culminating in a protocol for the management of the family estate in a professional way.



Benefit

Diverse solutions were offered for the tax planning of the inheritance in a form that allowed for anticipating costs, further allowing them to adopt the civil legal solutions that were most advantageous for the future heirs and for the the survival of the business estate, anticipating possible adverse effects and minimising the risks of the coincidence of disagreements in the family core.

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