Successions, gifts and trusts

Successions: Estate Management and Tax Returns

Succession opens with the death of a person and is the legal process by which the deceased’s assets are transferred to heirs. There are two main types of succession:

In testamentary succession, the testator (the one who drafts the will) can decide how to distribute his or her assets, while respecting the shares of legitimacy reserved for the legitimates (spouse, children, and ascendants). In the absence of a will, on the other hand, assets are divided among heirs according to the provisions of the law.
Our firm provides assistance for:

Donations: Transfer of Assets in Life

Donations are one of the most widely used means of transferring assets during life, avoiding the uncertainties associated with inheritance and making it possible to clearly determine who will receive certain assets. A donation is a formal act through which a person (donor) transfers an asset, free of charge, to another person (donee).
Our firm offers advice and assistance in the drafting of deeds of gift, ensuring that each transaction is carried out in compliance with the law and with maximum tax benefit. We also handle the aspects related to the revocability of donations, their transcription in the real estate registers (in the case of real estate donations) and the verification of any legitimation quotas that must be respected.
Types of donations assisted by our firm:

Gifts are also a useful tool in estate planning, as they allow assets to be transferred to heirs in advance, reducing the risk of inheritance conflicts and allowing for more favorable tax management.

Trusts: Asset Protection and Tax Planning

A trust is an Anglo-Saxon-derived legal instrument that allows a person (settlor) to transfer ownership of certain assets to a third party (trustee), who will have the obligation to manage them in the interest of one or more beneficiaries, according to the instructions given by the settlor.
The trust can be used in a variety of contexts:

The Massimiliano Ferraro Notary Firm provides assistance in the creation and management of trusts, helping clients define the most appropriate clauses to ensure the protection and proper administration of assets. We take care of all legal and tax formalities related to the establishment of the trust, ensuring that the contributed asset is managed according to the settlor’s wishes and in compliance with regulations.

Family Covenants: Business Succession and Generational Continuity

A family covenant is a legal instrument that makes it possible to transfer, during his or her lifetime, ownership of the business or corporate interests to one or more heirs, ensuring business continuity and reducing the risks of disputes among future heirs. This is a very useful arrangement for families who own a business and want to ensure that it will continue to be managed over time, preventing the inheritance division from jeopardizing the stability of the business.
Our firm provides comprehensive advice on drafting and entering into family covenants, ensuring that all parties involved are protected and that the transfer takes place in accordance with tax and civil regulations.
Advantages of the family covenant:

Restrictions of Destination: Legal Protection of Assets

A destination bond is an act through which certain assets can be earmarked for a specific purpose, protecting them from legal action or creditors. This instrument is often used in estate planning to ensure that assets remain available to the family or specific individuals, in accordance with the purposes defined by the settlor.
Our firm provides assistance in drafting and registering deeds of trust, ensuring that assets are protected and managed in accordance with the stated purposes.