Family pact: what it is, how it works, who takes part and how much it costs
What is a family pact? And how does it allow a business to be transferred to a descendant during the owner’s lifetime, settling the rights of the other heirs in advance? In this guide we look at what the Civil Code says, who must take part, how the payout of the other forced heirs works and what the costs and taxes are. We will also examine how it differs from a gift and a will, how it can be challenged or dissolved, and what the pact does not resolve.
