SUCCESSION PLANNING, LIFE INSURANCE, AND CORPORATE STRUCTURES: FINANCIAL AND LEGAL MECHANISMS FOR EFFICIENT INTERGENERATIONAL WEALTH TRANSFER

Resumen

Intergenerational wealth transfer requires the integration of financial tools, corporate structures, and behavioral insights to preserve assets and minimize family conflict. This article examines how life insurance, probate procedures, and family holding companies contribute to efficient succession planning. Empirical evidence shows that life insurance provides essential liquidity, preventing forced asset sales and facilitating inheritance equalization, while holding companies reduce legal uncertainty, administrative costs, and procedural delays associated with traditional probate. Nonetheless, psychological and identity-based barriers often prevent families from engaging in timely planning, as incumbents struggle with relinquishing control and successors face identity challenges in assuming leadership roles. By synthesizing findings from family governance, behavioral psychology, and legal literature, this study highlights the importance of combining technical instruments with relational and communication strategies to ensure long-term continuity and effective wealth transfer across generations.