{"id":6055,"date":"2021-11-26T10:00:18","date_gmt":"2021-11-26T10:00:18","guid":{"rendered":"https:\/\/www.francescopaese.it\/family-inheritance-agreement-when-its-useful\/"},"modified":"2025-10-07T15:13:52","modified_gmt":"2025-10-07T15:13:52","slug":"family-inheritance-agreement-when-its-useful","status":"publish","type":"post","link":"https:\/\/www.francescopaese.it\/en\/family-inheritance-agreement-when-its-useful\/","title":{"rendered":"Family Inheritance Agreement: When it\u2019s Useful"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><h2><strong>What is a Family Inheritance Agreement and What is its Purpose:<\/strong><\/h2>\n<p>Family Inheritance Agreement is a key legal tool designed to ensure continuity in business<br \/>management by:<\/p>\n<ul>\n<li>Identifying one or more of the entrepreneur&#8217;s descendants who are deemed suitable to<br \/>manage the business;<\/li>\n<li>Transferring the company to them, or if the business is structured as a corporation,<br \/>transferring ownership shares;<\/li>\n<li>Settling the financial claims of any legal heirs who are not assigned the business or its<br \/>shares.<\/li>\n<\/ul>\n<h2><strong>Family Inheritance Agreement: the Parties Involved<\/strong><\/h2>\n<p>The rules governing the Family Inheritance Agreement explicitly state that the parties must<br \/>include the entrepreneur, the descendants to whom they intend to transfer the family business,<br \/>as well as the spouse and all other individuals who would be considered legal heirs if the<br \/>entrepreneur\u2019s succession were to open at that time<\/p>\n<h2><strong>Key Characteristics<\/strong><\/h2>\n<p>The Family Inheritance Agreement must be executed as a public deed in the presence of a<br \/>notary, and all legal heirs must participate.<\/p>\n<p>The agreement requires that the beneficiaries who are assigned the company or its corporate<br \/>shares compensate the other participants with a sum equivalent to the value of the shares<br \/>reserved for the legal heirs. This compensation is mandatory unless the legal heirs voluntarily<br \/>choose to waive it in part or in full.<\/p>\n<p>It is also possible for the other participants to be compensated with assets rather than money.<\/p>\n<p>What are the advantages? The main benefits are: Economic benefits, peace of mind for the entrepreneur and continuity in the governance of the business<\/p>\n<p>What role does a wealth advisor play? What is the Role of the Financial Advisor? In this context, financial advisors act as a pivot.<br \/>Their role is to explore all the explicit and unstated needs of the project and, if necessary,<br \/>connect the entrepreneur and their family with an accountant and a notary who can help finalize<br \/>the agreement.<\/p>\n<h2><strong>Family Inheritance Agreement, an Example:<\/strong><\/h2>\n<p>Let\u2019s consider the case of an entrepreneur with three descendants, only one of whom is suitable<br \/>to manage the business. Since this individual is the only one with the vision to ensure the<br \/>business\u2019s continuity, the business can be protected through a Family Inheritance Agreement.<br \/>This prevents the family from being forced to close the business, allowing it to continue<br \/>operating and providing returns.<\/p>\n<p>To achieve this, the financial advisor can assist with transferring a portion of the investment<br \/>portfolio as compensation to the other heirs. The advisor can also connect all parties with the<br \/>necessary legal professionals to formalize the agreement<\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":6054,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[],"class_list":["post-6055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-advice"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Family Inheritance Agreement: When it\u2019s Useful - Francesco Paese<\/title>\n<meta name=\"description\" content=\"What is a family agreement and how does it work? 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