Notaries

Vertical family pact to facilitate business transfers between generations

Focus also on the new rules for the circulation of donated assets

by Camilla Colombo and Camilla Curcio

21 October 2025

Pagina Facebook del Consiglio nazionale del Notariato

3' min read

Translated by AI

Versione italiana

Key points

The Simplifications Bill
Gender education

3' min read

Translated by AI

Versione italiana

The family covenant and the regulations on the circulation of assets of donative origin were the most discussed topics at the 61st National Congress of the Notariat, held in Rome from 16 to 18 October.

The family pact, an institution introduced in 2006, was intended to stimulate generational changeover in businesses. But today it needs to be perfected in order to be successful. "Why has it not worked as expected so far? Because today it is conceived horizontally: the son is responsible for liquidating the other heirs and often does not have the economic capacity to do so," explained Vito Pace, president of the National Council of Notaries. "For this reason, as a category we are asking to introduce a vertical pact, so as to broaden the range of beneficiaries.

A change that could also meet the needs of young entrepreneurs if accompanied by personalisation, flexibility and dialogue between the generations. "Our research conducted in May 2025 shows that for 30% of young entrepreneurs, it is important to renew and transform the company in order to be competitive, expand the business and open up to new markets," explained Alice Pretto, vice-president of the young entrepreneurs of Confindustria. "Moreover, 54% would like to implement more inclusive governance because they are more sensitive to diversity issues.

The Simplification Bill

On the table of the proposals addressed to the institutions, the notaries also put the need to tackle the reform of contracts of inheritance, at least of the renouncement one, to close the circle given the approval in the Senate of the simplification bill, which modifies the rules on the circulation of assets of donative origin.

"The reform serves to streamline and smoothen the transfer of assets and is not a change in the interest of notaries but of citizens," commented Francesco Paolo Sisto, deputy minister of Justice. For over ten years, the Notariat has been proposing to the legislature to intervene on this law, which has become anachronistic," Pace added, recalling that every year in Italy there are more than 200,000 real estate donations. However, many of these assets can be returned to the legitimates in the event of an infringement of the legitimacy. A mechanism that impacts the real estate market, making transactions and access to credit difficult

The Notariat's proposal aims to overcome this knot by stipulating that legitimators can no longer demand the restitution of a donated property to a third-party purchaser, thus having the certainty that the property cannot be claimed. This approach protects the principle of equity, ensuring that heirs receive adequate compensation.

Gender formation

Dealing with changes in society also means being able to recognise that there are still a few missing pieces to the achievement of real equality between the sexes, including the recognition of economic gender violence. "If we look at cases of domestic violence, everything starts from economic discrimination," said Paola Di Nicola Travaglini, magistrate and councillor of the Court of Cassation. "First the economic incapacity of the woman is created in the family context, then she is deprived of the tools that would make her autonomous. It is no coincidence that a third of the feminicides occur during a separation or in contexts where the woman wants to break off the relationship.

This requires specific training of professionals, especially notaries, who can act as 'guarantors of prevention'. This appeal was taken up by President Pace, who announced his commitment to include ad hoc courses on the subject in the programme of the Scuola del Notariato.

This confirms the notary's active role in interpreting the changes in society and the family. As was the case in 1975 with the reform of family law, so today the profession is opening up to dialogue with the legislature to protect the dignity of fragile subjects, on the one hand guaranteeing private autonomy and on the other preserving their public function.