Italian inheritance lawyers. What is their role?
What are Italian inheritance lawyers?
Specialist Italian inheritance lawyers assist with the execution of wills and the complex legal procedures relating to Italian inheritance issues.
How can Italian inheritance lawyers help?
Engaging the services of a specialist inheritance lawyer in Italy simplifies the administration of an estate. This includes gathering all the documentation relating to property, assets and/or land. It speeds up the whole inheritance process, from identification and location of beneficiaries entitled to the estate to tax payments and distribution of assets.
An Italian inheritance lawyer can help draft certified translations of documents, appoint a local notary and manage all required procedures with the relevant Italian authorities to ensure that assets are transferred to the names of the entitled beneficiaries.
Furthermore, an Italian inheritance lawyer can advise whether there are any claims or rights on assets and/or properties according to Italian Inheritance law. A lawyer can conduct searches for properties, titles, deeds and records, obtain an appraisal or a survey of a property with the support of qualified professionals to appraise the value of the deceased’s estate and determine whether there are any debts and liabilities.
Moreover, they can provide advice regarding the procedures for accepting or renouncing an inheritance and the options available to beneficiaries according to Italian law.
A lawyer will provide legal support if you need to:
– obtain a copy of a public will;
– challenge a will drafted in conflict with Italian legislation in the Italian Courts;
– manage the whole administration process;
– register an inherited property in the name of the heir(s) or;
– if the heir(s) choose to sell inherited properties and or assets.
Italian Inheritance fiscal and financial matters
Italian inheritance lawyers can also help determine taxation connected with an inheritance.
In effect, Italian inheritance tax applies to the entire net value of the deceased’s estate. This therefore includes both movable and immovable assets.
Immovable assets include houses, shops, buildings, agricultural or building land.
Movable assets could for example include, boats, jewellery, works of art, bank and post office current accounts, money, investments such as shares, bonds, trust funds. In addition, companies and shareholdings in companies are taxable. However, there are exceptions to this.
Basic estate tax in Italy, “Imposta sulle Successioni” equates to 8% of the estate. However, estate tax rates depend on the relationship of the beneficiary to the deceased.
Where an estate includes bank accounts connected to an inheritance case, an Italian inheritance lawyer can help release accounts.
In addition, a lawyer can ensure the correct distribution of funds to beneficiaries.
For more detailed guidance about Italian inheritance, you might find our Guide helpful.
At De Tullio Law Firm, we have over 55 years of expertise managing cross border succession and estate planning matters. Our multilingual team is present throughout Italy. Our firm is also a full member of STEP, the world’s leading association for trust and estate practitioners.
If you would like to discuss a case with us, please contact us for a free consultation.
You may also like our inheritance video guides.