Things you must know about Italian succession law

For those who come to Italy and settle here or those who live outside in a foreign country for work but their native place is Italy must know the Italian succession law. Italian Law of succession, although it might seem that it is applicable only for Italian people that is not true. That businessman who came to Italy from another country and settled here also comes under this law. The succession to property is not given based on nationality even though people might have a choice of nationality. This is done to safeguard the property of the citizens from being sold by foreigners who come to Italy for business purposes. According to the Italian law of succession, there are three types of wills of the property. It can be

• Public wills:-The wills are the legal declaration that is done for disposing his/her property or estate after death before the notary.
• Holographic bills:-These wills are handwritten wills by the tester that are signed and dated. These wills are easier to make, but they will only be shown before the court only after the death of the owner.
  
• Secret wills: -A secret will is a sealed written document that is authorized by the tester signature. This will is handed over to the notary in front of two witnesses.

What does Italian succession law states?

It states that in case the resident dies without a will, the estate and property shall be distributed according to the Italian civil code. The property shall be distributed between the spouse, her children, siblings (in the absence of any successors), and relatives. If the deceased person has not left any will before dying the estate will be distributed to the Italian government.

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Contact the Most Successful Law Agency for Succession Cases

We all want to be free. No one likes to be bound up. Everyone wishes to exercise free will in everything that is undertaken. However, too much of anything is injurious to the overall well being of the individuals. A sense of direction is required wherein the difference between right and wrong can be understood. Otherwise, it would become very difficult to draw a line between right and wrong. It is at this juncture that law plays a pivotal role in society. Law offers vigilance on all kinds of legal activities so that people do not indulge in illegal activities. Law ensures proper policing of unwanted frauds and fake activities which proof to b highly dangerous to the society. There are various kinds of legal cases and one must always be careful while indulging in any kind of legal cases. There are various firms which offer legal solutions of all kinds. While going for such platforms as well, one must first attempt to know about the respective company’s history and profile for safety purposes. One of the most essential laws is the law of succession. It is essential to contact an appropriate agency for sure success.

We, at Stornelli Law, are the leading platform in this regard. We have been into this endeavour since a long time and have been providing safe and productive legal solutions to all our clients. Our team consists of highly experienced and efficient members who are proficient in their work. When it comes to offering Italian Succession solutions, we are known for taking a major lead amongst all other legal platforms. If you are stuck in any kind of succession identification issue and are in the lookout of a platform which can help you in solving it for you, we are here to help you in the best possible manner. We specialize in understanding Italian succession law as we are aware of its deeper nuances and can tackle it with authentic information and backing.

Laws Regarding Italian Succession AndInheritance:

The laws regarding inheritance fall under the Italian Civil Code or CodiceCivile. Under the Italian Succession Law or the Italian Inheritance Law, a deceased person’s estates (rights, obligations, assets) are transferred to his/her heirs. The CodiceCivilerecognises two types of succession:

•     The first type is known as SuccessioneTestamentariaor Testate Succession when succession is ruled by a will or testament of the deceased person.

•  The second type is known as SuccessioneLegittimaor Intestate Succession where succession is ruled by law in the absence of a will or testament.

If the circumstances dictate that there is a will but the will doesn’t cover the entirety of the estates, the succession is ruled partly based on the will and partly based on the Italian Succession law. The law also permits the next-of-kin to receive certain percentages under certain circumstances.

An heir needs to accept the inheritance. There can be two types of acceptance of inheritance according to the Italian Law or CodiceCivile:

• Express acceptance of inheritance, or the acceptance of inheritance which has been a submitted as a formal statement to a notary or a court’s registrar.

•      Tacit acceptance of inheritance, which occurs when the heir acts as the owner and the selling or donating the property without having made any formal statement.

The rights to accept the inheritance, tacitly or expressly expires after 10 years of the death of the person. In case the statement of acceptance has terms and conditions or if there is partial acceptance of inheritance, under Italian Succession Law, the inheritance is declared null. An acceptance of inheritance means that the heir/heirs have to pay taxes on the inheritance according to the law. Relinquishment of inheritance rights, however, is also permitted by the law.