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Testamentary trust: an irrevocable tool to protect your properties and assets in Italy
A testamentary trust is a legal tool created in a person’s Last Will and Testament to specify how one’s assets will be distributed to specific beneficiaries. Contrary to a living trust, it comes into effect after one’s death. A testamentary trust involves three main parties: Benefits of a testamentary trust A testamentary trust is an…
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Testamentary trust: assets in Italy transfer to the trustee without paying inheritance taxes
A Testamentary Trust is created in accordance with the instructions in a person’s Last Will and Testament. Differently from a living trust, the testamentary trust starts having effect after the settlor’s death, and so is the trustee appointed. A testamentary trust can be a good way to leave assets to a specific loved one (usually…
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Dual citizenship: the benefits of an Italian passport
Italian Dual Citizenship is the first step to securing your Italian passport. Despite the citizenship process being complex and confusing, there are so many benefits to getting this highly sought-after identity document, that the wait will be worth it. The Italian passport is one of the strongest identity documents in the world. It will give…
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Trust law: definition, subjects, and how to establish a trust
Trust law defines a trust as a juridical instrument by which one person (settlor) transfers the legal title of assets, after the death or with an inter vivos deed, to another person (trustee), in the interest of a beneficiary or for a specific purpose. Italian law recognizes three types of trust: Trust law: categories of…