The article substantiates that the emergence of the institution of personal funds is a significant step in the development of inheritance legislation in the direction of expanding legal forms that mediate relations on the management and protection of inheritance, including in the aspect of the possibility of transferring business assets under professional management from generation to generation in Russian jurisdiction.

The article substantiates that despite the fact that legal relations on the protection and management of inheritance in the scientific literature are traditionally considered from the moment of the death of the testator and due to the fact of the discovery of the inheritance, the inheritance contract can be recognized as an instrument of both the protection and management of the inheritance, which embeds it in the system of relevant legal relations.