Do you know that business succession for private companies is to be revised?

As part of the revision of the Civil Code, the Federal Council has also proposed measures to facilitate business succession in private companies. Four measures are at the center of this:

1. A right to integral assignment of a company for heirs. This means that if an entrepreneur has not provided for anything at his death and an heir wishes to have the company allocated, he can demand this in court.
2. If the value of the business exceeds his share of the inheritance and the inheriting heir therefore owes financial compensation to his siblings, the compensation claim can be deferred for a maximum of 5 years, should the immediate payment of the compensation claim cause him serious (financial) difficulties.
3. The valuation date of the company for the amount of the compensation claim is the date of the donation (not the date of death).
4. To protect co-heirs, in future they will not have to take over minority shares in a company in which an heir has taken control (>50%) against their will as part of their compulsory share.