Practitioner workshop | Session 3: Legal and Tax Aspects of Succession Planning and Implementation of Family Constitutions

The Family Constitution is signed and sealed – what’s next? In this session we will discuss possible practical approaches to the implementation of the Family Constitution into real life action. We will explore which sections of the Constitution can remain declarative, and which usually need further coverage through various legal instruments. We will touch upon several structuring myths such as “the Constitution cannot be properly implemented through Baltic structures” and “foreign structures are hundred times better”. Furthermore, we will examine basic tax implications related to wealth transfer and subsequent distribution of its benefits. Practical insights into the challenges of implementation will also be discussed, offering real-world examples to ensure a harmonious and tax-efficient succession process.