In Spain, it is estimated that more than 85% of the business fabric is made up of family companies, which, in turn, generate more than half of the Gross Domestic Product, according to the latest study conducted by the National Statistics Institute.
Family businesses have features that make it necessary to have quality advice to ensure that they operate smoothly, avoid conflicts between family members and between the family and the company. This applies to the company’s shares inherited by the family members, the management scheme, tax rules applicable to transfer of ownership of the company among members, and drafting wills to ensure that equity is shared as per the wishes of the deceased. For example, the testator may wish to ensure that the company stays intact to maintain control of a capital company or group of companies, so the testator or the controller may leave it to one or more heirs, determining that the other interested parties are duly compensated in cash, that amount may be paid with money from outside the estate, or even delay payment up to five years from the death of the testator, as well as other ways of satisfying the payment obligations.
We can advise you on all these issues, providing a quality service based on years of analysis and experience in these highly technical complex issues.