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 […]
How suppressing a will can lead to being excluded from succession
In July 2019 Italy’s Supreme Court of Cassation affirmed that the suppression or voluntary destruction of a will can result in the perpetrator being excluded from succession (Cassazione n. 17870). a) the suppression of a document that can be qualified as a will, or In cases where an heir is accused of suppressing a will, […]
What’s Involved in the Publication of a Will?
A last will and testament can appear in three forms: Public (dictated to a notary and signed in front of two witnesses), Secret (delivered to a notary in a sealed envelope), or After the death of the testator, the will must be published. If the will is public or secret, it is promptly published by […]