Family Business and Estate Planning (LL.M.)

Family (in the broadest sense of the word) as the foundation of society entails a variety of legal aspects. In times of internationalization and globalization, forward-looking estate planning that serves to provide long-term security for family assets is increasingly gaining importance. This especially applies when large assets are available, as is often the case with family businesses and equity investments.

In view of the fact that about 45,700 small and medium-sized businesses are due to be handed over between 2014 and 2023, questions regarding the organization of ownership and business structures, as well as succession planning become the focus of discussions. This in turn involves diverse and complex legal aspects, both regarding succession planning within the family as well as outside the family.

The continuing education master's program under the management of Professor Martin Schauer, which the University of Vienna offers as of October 2018, aims to address exactly this issue. The university continuing education and training program in Family Business and Estate Planning (LL.M.) provides legal experts with the opportunity to further develop their competences and specialize in the interface between economy, family and private wealth management.

On the one hand, it places particular emphasis on (family) businesses active on a national and international level as essential pillars of the business location Austria. On the other hand, it focuses on the family in the broadest sense. Based on an innovative didactic concept, the program aims at developing and teaching specific characteristics, transversal issues and interrelations of these central topics.

Taking a holistic approach to the “life cycle” of an individual or a business as well as their mutual relationship with one another, the interdisciplinary master's program traces an arc from forward-looking planning mechanisms for various legal issues to finding solutions to them in case of disputes. This is also clearly reflected in the wide range of topics covered by the different modules. In addition, the program aims to address the issue of estate planning to take a closer look at solving interdisciplinary legal issues and promote networked thinking.