- Charities, philanthropy and gifts
- Cross-border estate planning
- Education, training and preparation of next generation
- Emergency measures
- Emigration and immigration
- Estate planning
- Estate taxes and duties
- Family assets; art, portfolio, realty
- Family business
- Family disputes and solutions
- Family Governance and Family Charters
- Family Office
- Foundations and Trusts
- Last will and testament
- Living will
- Marriage contracts, nuptial agreements and matrimonial law
- Personal income tax
- Protection of assets
- Residency
- Structures to hold, control or manage family wealth
- Succession planning and transfer to next generation
- Tax Planning
Forced Heirship under Italian Law
Italy is a civil law country and title to property succeeds from one generation to the next according to the provisions of the Civil Code. Property may pass by the laws of “headed” succession (without a will), or by will or other testamentary instrument. Forced Heirship Forced heirship is an aspect quite specific to Italian Law, insofar as it poses stringent limitations to the freedom of a person to dispose of its assets post mortem, and to some extent also in his/her lifetime. Below we will consider its main provisions and practical examples. Under the Italian Civil Code, when a person...
4 Steps on how to transfer the Family Business to next generations
How to transfer the family business to next generations? Timely and proper transferring of family assets requires careful planning and training of successors and documenting the rights and obligations of all family members. This should be based on discussions between qualifying family members in which each express their wishes, worries, objectives and ambitions regarding the family and its joint assets. In this article 4 key steps are described which allow for a successful transfer of family owned assets to succeeding generations. Step 1 - When to start the transfer process and who should...
Common law marriage, same sex marriages and divorce
Common Law Marriage A right at common law to marry exists unless state law affirmatively changes the right. Common-law marriage can be contracted in eleven U.S. states: Alabama, Colorado, Iowa, Kansas, Montana, New Hampshire, Oklahoma, Rhode Island, South Carolina, Texas, Utah, and the District of Columbia. The requirements for a common-law marriage to be validly contracted differ in the eleven states which still permit them. A common-law marriage is recognized for federal tax purposes if it is recognized by the state where the parties currently live or in the state where the common-law...
How to implement strong Family Governance?
When dealing with family governance, family advisors should keep in mind the following steps: establishing a proper diagnosis of the family needs, implementing appropriate tools and increasing involvement toward family. Implementing strong family governance First, family advisors must pay particular attention to the following: family governance cannot and must not be mixed up with corporate governance, even though family play a key role in family held corporations. Both entities do not follow the same goals and are therefore not subject to the same kind of management. Family governance...
