Is it possible to protect assets from waste by heirs

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The civil code of the default, provided the distribution of each belonging to the testator of an asset in equal shares between the heirs of the first stage (children, spouse and parents). In the end every thing will get a lot of co-owners. Heirs will have to agree on the manner of use and disposition or the exchange of shares in assets.

This approach is not conducive to either effective use of inheritance, nor family cohesion. “There is no need to put them in the same boat,” advises American investor and financial Mogul Warren Buffett. The business can survive such transfer only in the presence of a well-functioning system of corporate governance, which is characteristic far not each Russian company. In addition, this distribution model does not account for abilities, aptitudes and interests of the heirs. One of the advantages can only be described equal protection of the interests of all parties.

Можно ли защитить капитал от растраты наследниками

What if to put the problem differently, and to ensure equality, avoiding the shortcomings of the first model? That is to balance the assets cost and to allocate it on the principle of “one thing — one hand” taking into account the personal qualities of the heirs and their relationship with specific asset. This approach will ensure the integrity of the transferred business or other property.

This system was adopted by the founder of the Catalan dynasty Beaute, which helped to keep intact Can Casadela — the summer residence of the family in the suburbs of Barcelona Premia de Dalt. The downside is the fact that expensive to keep Villa — only asset inherited by Jose from the state of his grandfather. Jose and his wife Magda are using the house as a guest, allowing coverage of the cost of its contents, and tourists from around the world can immerse yourself in the legacy of the colonial era, carefully preserved by his descendants. It would be possible, if the asset was owned on shares by dozens of heirs of a tycoon?

As a prize

Another option is to move away from the concept of equality and to use the inheritance as a motivation for the development of successors. It is possible to develop criteria for the distribution of state depending on the achievements of the heirs and to inform them about this, prompting the development on the chosen path.

The goal in this case will depend on the values that he wants to convey to the descendants of the owner state. Metrics can be, for example, level of education, career experience, community service or number of children. It is important to take into account equality of opportunities (education, fertility), otherwise the incentive system risks becoming discriminatory model.

An interesting example of this approach is the legacy of the founder of Playboy Hugh Hefner. His heirs for 12 months will lose their inheritance, if they are convicted of alcohol or drug abuse, then you will need to re-test. They should not receive the inheritance until you get rid of the dependence.

There is another way. Russian businessman Vladimir Potanin, for example, says about the disposal of his fortune to charity as a way of protecting children from the burden of excessive wealth, which deprives them of motivation to do something. And businessman Sergey Galitsky wants to spend their money in life on what you like, and have already built in the Krasnodar football stadium with a magnificent Park.

Everyone has the right to choose their personal goal and to dispose of the state at its discretion. Nobody obliges the testator to be fair or logical. The distribution of the inheritance is also one way of self-expression.