Reserved Acceptance – Italian Inheritance
Brief Case Study
For a better comprehension of reserved acceptance, we have provided a brief case study concerning this topic.
Silvia and Eric Jones owned a beautiful property in Liguria. They were resident in Italy, loved life here and were well-integrated in to their local community. Sadly, recently, in close succession, Silvia and Eric died.
The Jones’ sons, Larry and Tom, have been in touch with De Tullio Law Firm about their parents’ Italian Wills. They have some concerns regarding what happens when heirs are unsure exactly what they are inheriting. Larry and Tom are very concerned that their parents’ estate may be encumbered with debt. Read more
Property inheritance laws in Italy
Italian Succession Law – An Overview
Italian succession law follows the Roman Law principle which gives some protection to close members of the family, partially limiting the right of the testator to dispose of assets.
Testamentary Succession consists in the assignment of hereditary assets in compliance with the wishes of the testator as set out in an Italian Will. In the absence of a Will, instead, inheritance is devolved following the principles of Legal Succession. Read more
Italian Inheritance principle
The law no. 218 of the 31st of May 1995 regulates the field of Italian inheritance law in the framework of international private law.
The succession rules are determined on the basis of the national law of where the decedent was deemed habitually resident at the time of death.
Italian Inheritance legislation adopts the principle of “unity of inheritance”. This principle differs substantially from the one adopted in common law countries. It is based on a division between non-property assets and property assets: Read more
The role of Italian Probate Solicitors
Italian probate solicitors assist with the execution of a Will and the legal procedures of Italian inheritance issues. Engaging the services of a competent and knowledgeable lawyer simplifies the administration of an estate.
Having an independent lawyer will assist with collecting all the documentation relating to property, assets and or land. It speeds up the identification and location of the beneficiaries entitled to the estate of the deceased. Read more
This article deals with the issue of the choice of law ruling the economic relationship between foreign married couples resident in Italy.
Matrimonial regime in Italy, “Regime patrimoniale coniugale” in Italian, is governed by Italian Civil Code. Italian law no. 218 of the 1995 amendment reforming international private law, determines applicable law.
Concerning the economic relationship between married couples, if they have the same nationality, the national law of the two partners will be enforced. Read more
The steps of an Italian Attorney’s legal career
The path to a legal career to become an Italian Attorney involves several years of study and internships.
Future lawyers first need to complete a Bachelor’s Degree in law, (Laurea in Scienze Giuridiche), which takes three years. To proceed along the path towards practising law, students require a two-year post-graduate degree (Laurea Specialistica in Giurisprudenza) or, a further five-year Master’s Degree (Laurea a ciclo unico Magistrale in Giurisprudenza). Read more
Partition of Property among Family Members
Partition of The Estate: how does it work?
Should there be more than one heir nominated in a Will or in accordance with Italian law, a condition of joint-ownership of rights and duties concerning the inheritance is established among the co-heirs.
A testator’s estate is composed of assets and real rights: the co-heirs receive the estate in proportion to their inheritance quota, either as apportioned in the testator’s Will or in accordance with the law – and, in the same proportion, they acquire any credits due and take on all the debts of the testator. Read more
How and why drafting an Italian Will
Generally speaking, Italy recognises the validity of international Wills. However, it is advisable for foreign nationals with assets in Italy to draft an Italian Will.
The main advantages to having an Italian Will are: Read more
The legislative decree 122/2005 introduced very strict requirements for preliminary contracts concerning investments in off-plan properties in Italy.
Following art.6 of the above mentioned legislative decree, the preliminary contract should also contain:
– A full description of the parties.
-Identification details of the property, including the cadastral reference of the plot Read more