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 established abroad: this type of trust can be established with a testament (will) or with an inter vivos deed by foreign citizens.
- Trust established in Italy regarding foreign assets: this type of trust is established by Italian citizens with assets in a foreign country.
- Trust established by foreign citizens regarding assets in Italy.
Trust law: categories of trust
According to trust law, a trust can be:
- Autodestinato (self-destined): when the settlor and the beneficiary are the same person. The trust is therefore established for one’s own benefit.
- Autodichiarato (self-declared): when the settlor and trustee are the same person.
If you are looking for legal advice related to this topic, please email us: firstname.lastname@example.org.
Read more articles on our website:
- Court fee changes: how much will you pay for civil procedures (dual citizenship)?
- Italy’s Supreme Court vs. US Supreme Court
- Property claims, restitution and inheritance