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Italian Succession Procedure
Giambrone & Partners English-speaking Italian succession lawyers have considerable of experience in dealing with complex succession issues and are keenly aware of the importance of keeping clients fully informed of the progress of the procedure.
The Italian Civil Code presides over the succession procedure that governs the transfer of a deceased person's estate to their heirs. The process can be categorised in three main types, testamentary succession, legal (intestate) succession and necessary (forced) succession.
What is involved in an Italian succession?
The Italian succession process can be complex, particularly for heirs who do not speak Italian or live in Italy which is often the case for families have second and third generation non-Italian speaking heirs. Giambrone & Partner's management of the succession process is explained below:
The succession procedure can be divided into sections:
Due Diligence
- Scrutinise all documents
- Ascertain who are all the entitled beneficiaries
- Establish and categorise all assets of deceased
- Establish if there is a valid will and which country's law is applicable.
Probate
- Inheritance application
- Tax application and payment
All funds are held securely by trustee/law firm ready to be released at the appropriate time.
Release Funds
If the client requires funds to be exchanged into a different currency other than the Euro, Giambrone & Partners will help the client find the best exchange rate.
Sale of Property
Where there is a property including in the assets, Giambrone & Partners can assist with orchestrating the sale of the asset without the necessity of any beneficiaries having to visit Italy, if that is their preference. Our lawyers can also settle outstanding bills and other liabilities on behalf of the beneficiaries.
Disputes
In the event of any disputes between the beneficiaries or individuals who contend that they have been overlooked and should be included. Giambrone & Partners lawyers can act as mediators and negotiate with all parties to bring about an amicable resolution for all beneficiaries involved.
If the deceased had no land, property, nor bank account in Italy, the probate procedure can be simplified further. Italian law will not require executors to be appointed.
Further Reading: