The Longevity Era: Rethinking Wealth And Family Planning

Longer life expectancy is no longer only a demographic or health care issue. It is becoming a legal, tax, and succession challenge for families, entrepreneurs and advisors operating across jurisdictions.

Italy offers a particularly meaningful example. According to the Italian National Institute of Statistics (ISTAT) in its report Demographic Indicators – Year 2025¹, life expectancy at birth in Italy reached 81.7 years for men and 85.7 years for women, while the fertility rate fell to 1.14 children per woman. This imbalance makes it increasingly important to manage not only the transfer of wealth, but also the protection of older people, the continuity of assets, and generational transition.

Italian lawmakers have started to address this issue through Law No. 33/2023², Legislative Decree No. 29/2024³, and National Recovery and Resilience Plan (PNRR) measures on home care and telemedicine. However, alongside public policy responses, private family planning is essential to coordinate personal protection, asset management, business continuity, and succession.

Today, many individuals remain active well beyond traditional retirement age, continuing to manage businesses, complex assets, and sophisticated family structures. Wealth and estate planning can no longer be limited to the transfer of assets after death. It must also address a potentially long period of vulnerability, reduced autonomy or incapacity.

A concrete example is an elderly family entrepreneur who is still active, owns a company and real estate assets, and has children living in different countries. In such cases, the lack of coordinated planning may create uncertainty around business management, voting rights, health care decisions, and generational transition, potentially leading to legal disputes and family conflicts.

For internationally mobile families, it is essential to put in place instruments capable of ensuring continuity and protection in case of incapacity or progressive loss of autonomy. Trusts, powers of attorney, advanced directives, family governance agreements, and corporate succession mechanisms are becoming increasingly central to long-term personal, financial, and business protection.

This is precisely where international professional networks can provide significant added value, helping families and entrepreneurs coordinate legal, tax, and governance solutions across different jurisdictions before critical issues arise. Lawyers, tax advisors, trustees, wealth managers, and estate planning professionals are called upon to work in a coordinated and multidisciplinary way, turning longevity into an opportunity for protection, continuity, and sound family governance.

Footnotes

1. ISTAT, Demographic Indicators – Year 2025, published on 31 March 2026. 

2. Law No. 33 of 23 March 2023 on policies in favour of older persons, published in the Italian Official Gazette on 30 March 2023. 

3. Legislative Decree No. 29/2024 on policies in favour of older persons, published in the Italian Official Gazette on 18 March 2024.