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The executor of a Will in Italy

The executor in Italian succession law

If you die as a resident in Italy, Italian succession law will dictate how your worldwide movable assets (i.e. bank accounts, shareholdings, personal items etc) and Italian immovable assets (i.e. a property) will pass on your death. If you are resident in another country, Italian law will only dictate how your Italian immovable assets pass on your death.

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Renouncing an Italian inheritance

Is it possible to renounce an Italian inheritance?

Receiving an Italian inheritance does not always represent an advantage. Due to important legal ramifications, it is a matter which you should carefully evaluate. Accepting an inheritance also implies becoming responsible for the decedent’s debts. Heirs, therefore, run the risk of paying off any debts they inherit from their own pockets. For this reason, Italian law confers a choice of whether or not

You may be familiar with the phrase, “power of attorney,” but you may not know its purpose or when to use it. This article covers the basics of a power of attorney and how it could be helpful if you are thinking of purchasing a property, if you already own property or if you have inherited assets in Italy.

• A power of attorney – “Procura” in Italian, is a legal

In order to better understand information provided on the website, it is important to know the meaning of the terms and expressions in use. – Chiamato all’eredità – Successor He/she is the person who becomes entitled to inherit assets of the deceased person by virtue of any kind of applicable disposition (testamentary or legitimate succession). – Denuncia di successione – Statement of succession The Statement of succession needs to

If the deceased was resident in Italy, Italian Inheritance Tax (Imposta sulle Successioni) is applied to all the assets worldwide belonging to the deceased.

Otherwise in case of a non resident, the Italian Inheritance Tax rate is calculated on the assets located in Italy. It would be advisable to seek advice from specialized professionals, since Italy grants different international agreements, which prevent the double taxation of estates.

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