On February 19, Meritxell Gabarró, director of Gabarró Advocats Herències, participated in an online presentation organized by CLUB 65 of the RACC to explain in detail what succession agreements are and what advantages they can offer.

This act of mortis causa disposition, which has been regulated in Catalonia since 2009, is increasingly used in cases where securing the distribution of assets—either fully or partially—in a clear and irrevocable manner is pursued.

Unlike a will, which can be unilaterally modified at any time, a succession agreement is a contract, granted by at least two people, by which the granting party (future testator) determines and commits irrevocably to the succession of their assets, either wholly or partially.

It is highly advisable that succession agreements regulate whether the granting party—without requiring the signature of the other parties to the agreement—can sell, donate, or mortgage during their lifetime the assets designated for inheritance.

The great advantage is the certainty that the assets covered by the succession agreement are safeguarded against potential changes to future wills, making it particularly useful to ensure the continuity of family businesses by guaranteeing that they will be inherited by the designated successors without the risk of unexpected and unforeseen modifications.

However, succession agreements are not advisable when the granting party believes that in the future they may wish or need to modify the agreement.

We are grateful for the invitation and delighted with the interesting questions raised by the nearly two hundred online attendees.