The first steps to take in a succession for joint bank accounts are the same as in any other succession, i.e. declaration of succession to the Italian tax authority. The declaration is made by the heirs, or an appointed delegate through a power of attorney, to the authorized (and local) revenue agency (in Italy, Agenzia […]
Tag: bankaccounts
Italian banks require the payment of inheritance tax
This was the recent decision rendered by The Supreme Court of Italy, leading to the ordinance of April 13, 2021. In the case in question, in the matter of succession and tax payment is relevant: in particular, paragraph 4 of art. 48 entitled “prohibitions and obligations for third parties”. The law and tax payment. The […]
Heirs and deceased’s bank accounts in Italy
During the course of succession, heirs assume not only the assets of the deceased, but also liabilities. These liabilities may include relationships with banking or credit institutions, making the heir responsible for all rights and duties due these institutions. In addition, access to personal information must be free and guaranteed in an intelligible form. All […]