Sometimes people think that the only way to distribute their assets to their loved ones is through a will or a donation.
Among our loved ones, there are sometimes people who are not relatives and who nevertheless deserve special attention.
The Trust institution offers sometimes unimaginable possibilities and also allows the person establishing the trust to maintain rights such as usufruct, and to allow the subjects to benefit provided that they are worthy with their conduct of obtaining these benefits.
The Trust is an institution under English law and widely used in Common Law countries.
Italy ratified the Hague Convention of 1 July 1985 with Law No. 134 of 16 October 1989, which came into force on 1 January 1992.
Obviously, establishing a trust and transferring assets to the trust is a legally complex operation but it allows for effective succession planning without resorting to a will and without resorting to donations which sometimes prove deeply disappointing.
Our firm has been providing legal assistance in Trust matters for over 10 years;
For further information do not hesitate to contact us.
Milan, 26 July 2024.
Avv. Giovanni Babino
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