Succession and Inheritance in Sardinia

inheritance in sardinia succession of a property will and gift lawyer and attorney hire italy

Introduction

Inheriting a house in Italy, however small it is, requires steps that must be followed and cautions for which it is advisable to contact a lawyer. Especially inheritance involving foreigners.
Since 2010, Govoni Law Firm’s lawyers have dealt with successions, and wills and over the years have assisted various clients from all over the world.

When an individual with Italian assets passes away, the property and other goods located in Italy must be liquidated and distributed – whether a Will exists or not. Furthermore, a legal title must be established for heirs and beneficiaries to obtain the assets. We assist clients in any steps of the procedure to obtain the assets from the succession of the deceased.

Succession Rates In Italy and Europe

In Italy, the succession and inheritance tax rate is relatively low compared to other countries, making it a very attractive option for individuals planning their estates.

The Italian tax rates are the following:

  • For direct descendants (children, grandchildren, etc.): 4% to 6%
  • For spouses: 4%
  • For siblings: 6%
  • For other relatives: 6% to 8%
  • For unrelated individuals: 8%

These inheritance tax rates are structured with a “Franchigia,” which is a tax-free allowance. Here are the Italian rates of Franchigia:

  • For the cases of 4%: up to €1.000.000 each.
  • For the cases of 6% a Franchigia of €100.000 each.
  • For disabled children, the Franchigia is increased to €1.500.000.

When compared to France and Switzerland, Italy’s inheritance tax rates are generally much lower.

For example, in France, an individual’s children are entitled to between half and three-quarters of the estate, depending on the number of children living at their death.

Switzerland also has its own set of rules, such as the compulsory portion under Swiss succession law, which ensures that certain heirs cannot be deprived of a share of the estate.

The context of these tax rates is important for individuals planning their estates, as it can significantly impact the distribution of assets to their heirs. Italy’s relatively low inheritance tax rates make it one of the cheapest in the world, providing an advantageous environment for succession and inheritance planning.

The European Union Succession Regulation also plays a role in this context, aiming to simplify the administration of multi-national estates by determining which country’s laws apply to the entire estate of the deceased. This regulation has implications for individuals with assets in multiple European countries, including Italy, France, and Switzerland.

Why should I hire a Lawyer for an Inheritance case in Italy?

Due to the complexity of these cases, especially for foreign clients that are located outside of Italy, the assistance of an experienced Inheritance lawyer is vital to deal with all legal procedures – particularly if heirs or creditors contest the Will.

In addition to this, there are financial penalties to be paid if the procedures are not adhered to promptly. Estates vary and so does the settlement of estates.

An administrator of an estate, often a family member or trusted friend, will need the assistance of a probate lawyer to ensure that the Will adheres to the Succession Law and it is applied correctly.

What does a Probate Lawyer do?

Our experienced lawyers will clearly explain the procedures and make sure all steps are taken care of within the time constraints while ensuring that your interests are protected as well as the wishes of the deceased.

Our probate lawyers also carry out all the necessary bureaucratic issues such as:

  • Filing the Will and death certificate with the probation proceedings;
  • Notifying creditors about death and probate procedures;
  • Collecting the necessary information to file the various required documents, such as those required to release probate money held in bank accounts or financial portfolios.

If any disputes arise among heirs or creditors, the administration of the estate can be delayed, resulting in financial penalties.

A probate lawyer can prevent such penalties and advise the estate’s administrator on how best to proceed. He can also represent minors and mentally incapacitated heirs in the distribution of assets.

Make a Will in Sardinia

Our assistance regards succession law concerns the drafting of wills and trusts respecting the law, and regulating the transfer of wealth, which often concerns real estate assets, from one person to another. This is a crucial step that needs proper assistance to translate the last wills into legal concepts. Italian law states a “legitim” (an obligatory portion of the statutory heirs), which must be taken into consideration in drawing up a will. It is just as important for the heirs to know the extent of their rights and obligations. Hence the a need to be fully informed and to evaluate whether and how to accept the request.

A succession also involves important fiscal charges. The complexity of the subject makes it necessary, to act with maximum safety, to make use of advanced consulting by a lawyer. The whole area of Inheritance and Wills represents a crucial moment in the life of each individual and the regulation of the transfer of wealth often concerns real estate assets changing ownership from one person to another.

Govoni Law Firm assists the client in drafting deeds avoiding incurring any pathology in the subsequent phase of opening the succession, respecting the last wishes of the testator. Often these will flow into institutions for the protection of wealth and assets such as Trust.

The succession opens with the event of the testator’s death and, from then on, works with retroactive effects. This moment is also crucial for the fulfillment of all the formalities that need to be done, including tax obligations.

To this end, in inheritance and wills practices, the Law Firm aims to assist the client who wants to dispose of his substances in the drafting of the will, informing him of the legal limits that must be respected in identifying the heirs, without affecting the so-called legitimate share (quota di legittima). If this share has been damaged, appropriate reduction action may be carried out with the proper legal action that will be more appropriate to the case for the better protection of the damaged parties.

There may be multiple beneficiaries of the same succession, in this case, will have to be carried out an appropriate analysis of the inheritance mass, will be done an evaluation of credits, assets, and debts or negative elements, and finally whether to proceed or not with the acceptance of the inheritance, with or without inventory benefit.

The most common cases are found in legitimate succession (without a will, with an invalid will or a partial inheritance) or testamentary succession (the will is present). In the case of wills of foreign persons, Italian law determines that these must be authenticated by a Notary. Any other succession pact is forbidden by law (known as the prohibition of succession agreements according to Article 458 of the Civil Code) no one can establish unilateral or bilateral pacts or dispose of someone’s inheritance, while the testator is still alive, in favor of potential beneficiaries (such as heirs or legatees).

However, the Italian legal system provides an exemption from this prohibition with the institution of family pacts (patti di famiglia).

In these cases, the Law Firm takes care to assist the entrepreneur who may decide to delegate all or part of his company or company’s participation in favor of one or more individuals. With this institute, the Italian legislator intended to guarantee the best continuity in the family business and Govoni Law Firm assists the client in the delicate generational shift.

In 1992, in Italy, the Trust entered into force through the ratification of The Hague Convention of July 1985 and the recognition of Law No. 364 of 16 October 1989. The Trust is an instrument that is based on a fiduciary and trustworthy relationship between the subjects involved, the trustee, the settlor, and the beneficiary, and aims to achieve a goal.