Inheritance, trust, and succession planning in 2026: what families should be reviewing now

Wealth planning does not end with investment performance. For many European families, the most complex financial event is not market volatility, but the transfer of assets across generations. In 2026, this challenge is becoming more pronounced as families grow increasingly international and legislative frameworks continue to diverge across Europe.

A common issue today is jurisdictional overlap. It is no longer unusual for families to hold property, businesses, and investment structures in multiple countries — each with its own inheritance rules, forced-heirship provisions, probate processes, and tax treatment. Without coordination, this complexity can lead to delays, unintended tax exposure, or outcomes that conflict with personal wishes.

Another area drawing attention in 2026 is the interaction between succession planning and residency. In several European jurisdictions, inheritance tax exposure depends not only on where assets are held, but also on the residency or domicile status of the individual at death. Changes in personal circumstances — even years before succession becomes relevant — can materially alter the eventual tax outcome.

It is also increasingly recognised that a will alone is often insufficient. While essential, a will does not address questions such as:

• how assets should be managed before transfer,

• how beneficiaries should receive wealth over time,

• or how family businesses and investment portfolios should continue to operate after a generational change.

For this reason, many families are reviewing longer-term structuring options and governance frameworks, ensuring that assets are not only transferred, but also preserved and administered in line with family objectives.

A notable trend in 2026 is the growing emphasis on lifetime planning. Gradual gifting, education funding, and early involvement of the next generation in decision-making are increasingly seen as ways to reduce future friction while maintaining control. When implemented correctly, these steps can support family members during life rather than concentrating complexity at a single point in time.

From an advisory standpoint, effective succession planning is not about aggressive tax mitigation or rigid structures. It is about foresight, clarity, and coordination — aligning legal, fiscal, and personal considerations into a plan that evolves as circumstances change.

A well-designed succession strategy helps ensure that wealth passes on efficiently, responsibly, and in a way that reflects the values behind it. In an increasingly international landscape, taking the time to review this planning in 2026 is not premature — it is prudent.