Investment and wealth
Wealth planning
We organise family and business wealth so that handover and succession do not depend on improvisation: family protocol, holding company and succession plan, worked out years in advance rather than on the day they are needed. The initial consultation ends with a concrete recommendation.
Lead lawyerMaría del Carmen Rodríguez Dacosta
Family protocol
A family protocol is the agreement through which a business family decides how it will relate to its company: who may work in it and on what terms, how the person running it is chosen, what is done with dividends and how shares are transferred. Part of what is agreed can be written into the articles of association, and its existence can be recorded in the Commercial Registry, as Royal Decree 171/2007 provides.
Holding company
Grouping the family's shareholdings in a holding company helps organise decision-making, separate the risk of each business and channel reinvestment. It is not a universal answer: it has costs and tax consequences that need to be studied case by case before taking the step.
Succession and handover
Succession in a family business is best prepared during one's lifetime. The will, the shareholders' agreements, the articles and, where relevant, lifetime gifts have to be coordinated: a good protocol achieves little if the articles allow something else or the will divides the shares differently. Tax rules provide reliefs for transferring a family business, subject to requirements that are best met well in advance.
What is not put in order in time ends up being put in order by others.
Frequently asked questions
What is a family protocol?
An agreement among the members of a business family governing their relationship with the company: governance, family members joining, dividends and share transfers. Its existence can be published in the Commercial Registry (Royal Decree 171/2007).
When should succession planning start?
Well in advance. Several tax reliefs on transferring a family business require conditions to be met before the transfer, and coordinating articles, agreements and wills takes time.
Does a holding company always save tax?
No. It can help organise wealth and decision-making, but it has costs and tax effects that depend on each case and should be studied before setting one up.
The initial consultation lasts thirty minutes and ends with a concrete recommendation.
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