Administration of Italian Estates - An Introductory Guide

Introduction

In these modern times, it is becoming common to have clients who own assets in multiple jurisdictions.

Although many international families may not think it is important to deal with estate planning until later on in life, it is important for them to address how they want to manage their future financial affairs, as failing to take each country’s tax laws and inheritance procedures into account may result in lengthy court proceedings, incorrect inheritance and high tax requirements in multiple countries.

An estate planning practitioner must have regard to the specific inheritance laws and succession procedures in the country the assets are in, as well as the likely inheritance taxes in that country. The existence of these may very well also affect the client’s tax position in England, as well as adversely affecting the beneficiaries, in both countries, in the future.

This webinar is suitable for private client practitioners who wish to understand how they should act when a client who has assets in Italy for estate planning advice.

The webinar will discuss the EU Succession Regulations and how this will affect the inheritance of the client’s global estate, Italian succession laws (including forced heirship) and whether it is preferable to have one single will to cover assets in both jurisdictions or whether it would be preferable to have a separate will for the Italian assets.

It will provide tips on what to include in a will which covers Italian assets, and what to avoid.

What You Will Learn

This webinar will cover the following:

• General overview to the EU Succession and its impact on cross border estates
• Introduction to Italian succession laws, inheritance tax and estate administration
• Whether one will or several wills is best in Anglo Italian estates
• General advice to give clients with assets in multiple jurisdictions

This webinar was recorded on 25th July 2023