Have you made a will for your Italian property?

Have you made a will for your Italian property?

 

Whilst there seems to be a general lull in financial markets, in the lead up to the British vote to leave Europe, I thought I would interrupt with a notice on my next event which may interest you. 

For some time I have been noticing that many of my clients, possibly you included, have not made sufficient plans for the succession of their properties in Italy in the event of their deaths. This may be as simple as making a Last Will and Testament to establish to who, and how, the asset is distributed on your death. 

However, as we all know, in Italy, things are not that straight forward and the rule of 'forced succession' (i.e. a proportion of the asset MUST BE distributed to children, spouse etc) may or may not be applied to your property in Italy. 

For this reason it may make sense to have a written Last Will and Testament in Italy to either reflect your last wishes as written in your country of origin, OR merely to have a written statement of how you wish your property to be distributed on your death.

Without written evidence of your wishes various interpretations can be made and tax authorities can hold up the passing of assets, in a timely manner, to your beneficiaries. In addition, your beneficiaries may not speak Italian and may need to take expensive legal advice to administer your estate.  Small actions now can minimize all these problems later. 

For this reason, The Spectrum IFA Group (Italy) have partnered again with Studio Legale Internazionale Gaglione  (Rome)  to provide you with a morning of questions and answers on this very topic.  

Wednesday May 23rd 2016 at Michele's Pastisserie in Castiglione del Lago starting at 11:00am. 

Should I make a Last Will and Testament in Italy, or not? 

Do the new Inheritance Tax proposals in Italy affect me? 

If my beneficiaries don't live in Italy do the forced succession rules apply to them? And what if they do live in Italy? 

Can I opt for my preferred jurisdiction to be taxed on death? 

What process will my beneficiaries have to through if I do not leave a Last Will and Testament in Italy? 

These are a few of the questions which can be answered on the day. 

The event will open at 10:30am for coffee, tea and pastries, followed by a prompt 11:00am start to the talk.

All attendees are encouraged to ask questions of the speakers, ROBERTA MORETTI AND GIUSEPPE GAGLIONE of Studio Legale Internazionale Gaglione, or you can just come along and listen. 

Due to the outstanding success of the previous event, when held in Bagni di Lucca, numbers will be limited to a maximum of 30 people to ensure that everyone gets an opportunity to ask questions, so book early to reserve your place.   

Due to the importance of the subject matter, I would also ask you to kindly share the information of this event with people you may know who are not on my E-zine mailing list so that they may also attend if they wish.

To book a place you can contact me on gareth.horsfall@spectrum-ifa.com or call me on +39 333 6492356