Business Continuity Through Wills

When business partners co-own property, succession planning becomes a delicate balancing act. Consider four entrepreneurs—each holding a quarter share in a commercial property – perhaps the building from where the business operates —who wish to ensure business continuity while protecting their families' financial interests. The solution lies in two often-overlooked testamentary instruments: the legacy and th

Maltese law offers elegant solutions for such arrangements. Under Article 683 of the Civil Code, testators may include both universal and singular title dispositions in their wills. More intriguingly, the fideicommissary substitution allows a testator to impose an obligation on heirs to transfer specific assets to designated beneficiaries—typically upon fulfilment of certain conditions. For business partners, this opens strategic possibilities.