Joint bank account succession: How it works and how much you pay
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 […]
Italian Banks and 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 this particular case, a credit institution was sued by the heir of a current account holder. He asked for the bank to pay compensation for the failure to pay interest on a sum of […]
Heirs and the deceased’s bank accounts in Italy
Heirs and deceased’s bank accounts in Italy The heir nevertheless has a right to access information pertaining to the deceased’s banking or credit history. Article 119 of the Italian T.U.B. (Consolidated Banking Act– Legislative Decree No. 385 of 1 September 1993) states that “the client, he who succeeds (the testator) in any way and who […]