Successor Agreements: Validity and Limitations in Italian Law
Successor agreements are arrangements concerning the future succession of a person, made before their death. However, under Italian law, such agreements are generally prohibited. At the Bianucci Law Firm in Milan, we offer specialized advice to assess the legitimacy and possible alternatives in the field of succession.
The prohibition of successor agreements aims to preserve the testamentary freedom of the individual and ensure fairness in succession arrangements. There are, however, exceptions and alternative instruments that can be used to plan the transfer of assets lawfully and in compliance with the law.
Successor agreements are prohibited by law, but there are alternative instruments for planning the future of one's estate provisions.
Types of Successor Agreements
Italian law distinguishes three main types of successor agreements, all generally invalid:
- Establishing successor agreements: Agreements by which a person appoints, during their lifetime, an heir or legatee for the period following their death;
- Dispositive successor agreements: Agreements by which a person disposes, during their lifetime, of rights over assets that will be part of their estate;
- Renunciatory successor agreements: Agreements by which an heir preemptively renounces their succession rights.
Exceptions to the Prohibition of Successor Agreements
Although successor agreements are prohibited, there are particular situations in which similar agreements are permitted, including:
- Family agreements: Agreements that allow for the early transfer of a business or corporate shares to one or more descendants, in compliance with legitimate shares;
- Donations: Instruments that allow for the early distribution of assets, provided they do not harm legitimate shares;
- Life insurance contracts: Can be used to designate specific beneficiaries in the event of death.
Consequences of Violation
Successor agreements made in violation of the law are null and void. The consequences may include:
- Invalidity of the agreement: The agreement produces no legal effect, rendering the provisions contained within it ineffective;
- Disputes among heirs: The nullity of the agreement can generate conflicts among legitimate heirs;
- Court intervention: To resolve disputes, it may be necessary to approach a court.
Our Legal Support
The Bianucci Law Firm provides comprehensive assistance for succession planning and the management of disputes related to successor agreements, ensuring:
- Advice on the validity of estate and succession agreements;
- Assistance in drafting family agreements and other lawful planning instruments;
- Legal representation in succession disputes;
- Customized solutions for the protection of family assets.
Thanks to our experience, we support clients in managing successions with expertise and respect for the regulations, ensuring effective and lawful solutions.
No, family agreements are an exception to the prohibition of successor agreements, allowing for the planning of the transfer of businesses or corporate shares, in compliance with legitimate share regulations.
Instruments such as donations, life insurance, and family agreements allow for lawful and respectful estate planning.
The agreement is null and produces no effects. Any disputes can only be resolved in court.