Succession and Estate Planning

Relevant amount of the equity and/or assets of any international entrepreneur materializes in the shares that s/he owns in the companies around the world of which they are members or shareholders. At the time of his/her death, if no previous planning had been carried out, such shares, together with the consequential rights and liabilities which arise from them and/or the property related thereto, will be transmitted, in most cases, to their spouse or partner and/or children, with the additional risk of being taxed in more than one State. Furthermore, in some cases, such family members do not always show interest in the entrepreneurial activity developed by the deceased entrepreneur, or they just do not have any vocation for business management, or they simply lack the qualities required for such task. The consequences, which do not need to be exemplified, can be catastrophic. In this sense, succession and estate planning, whether through a family / equity holding company, or trust, or foundation, or other strategies analyzed independently, is an important tool for managing and shielding family assets.