Patrimonial planning in Italy
Whether large or small, consolidated or developing, the patrimony of each of us is a value to be managed with care, to be grown, protected and, finally, transmitted. During every phase of life, it is essential to use adequate instruments and to have a conscious approach.
Often, however, on this topic confusion reigns, and many people fall into the error of considering patrimonial management as an issue to be addressed only in old age, linked to succession or transmission.
On the contrary, taking care of one’s patrimony is important at every moment of life: both for a young entrepreneur starting out with a start-up, and for a couple building a family or for those who have inherited a considerable sum.
Growing one’s patrimony, by saving, investing with foresight and protecting one’s assets, is fundamental, as well as planning the generational transition accurately.
Patrimonial planning is, therefore, a key word to achieve one’s objectives and ensure for oneself, for one’s family and for one’s business a serene and prosperous future. But how to address a correct patrimonial planning?
In Italy, today, there are numerous useful instruments to plan one’s patrimony, such as the various insurance and financial solutions for saving, pension and investments. However, the regulation in matters of succession and inheritance is complex and continuously changing: for this reason, it is essential to rely on a trusted advisor.
These professionals, collaborating with experts such as notaries, lawyers and accountants, can guide people in the path of patrimonial planning: from the understanding of specific needs, to the identification of problems, up to the choice of the most suitable instruments for every phase of the path.
Since laws change, judgments influence case law and individual needs can evolve, a patrimonial planning project is necessary that is constantly monitored and updated, taking into account continuously changing external factors.
By turning to Boschetti Studio Legale you will be able to address the topic of family patrimonial planning with awareness, exploring a complex world of options and instruments, each conceived to respond to specific needs.
Every family nucleus, in fact, has a patrimony with unique characteristics, and there is no universal solution. The wealth planning process is not limited to numbers and regulations: it implies an emotional involvement, linked to family dynamics, personal preferences and long-term objectives. Every decision today has the potential to deeply influence the future, both financially and in family bonds. This is why tailored planning, including transnational planning, and therefore patrimonial planning for a foreign citizen in Italy, is essential not only to manage the patrimony effectively, but also to protect family harmony and the well-being of future generations.
- Succession
- Declaration of succession
- Inheritance succession
- Legitimate succession
- Testamentary succession
- International succession
- Succession planning
- Business succession
- Generational transition of the business
- Family pacts
- Patrimonial planning
- Inheritance pacts
- Inheritance retraction
- Patrimonial segregation mortis causa
- Particular phenomena of succession
Donation and family pact
In the context of patrimonial planning, instruments such as donation and the family pact play central roles. Donation allows an immediate transfer of assets, both movable and immovable, from one person to another, and is a particularly useful choice in case of urgencies, such as precarious health conditions, or for those who wish to see the beneficiaries enjoy their patrimony during their lifetime. However, donation presents limits of irrevocability, which require careful analysis to avoid succession imbalances.
The family pact, instead, is a versatile and sophisticated instrument, particularly useful for those planning business succession. It allows transferring the patrimony in a structured manner, preventing potential conflicts between heirs thanks to its adaptability and to the right of withdrawal, which grants flexibility and control even over time. Furthermore, the family pact allows derogating from inheritance pacts, favouring an equitable and stable patrimonial transfer.
Trust and property planning documents
The trust is an ideal instrument for long-term patrimonial management, thanks to its exceptional flexibility. In this case, assets are entrusted to a trustee, who manages them in the interest of the designated beneficiaries, easily adapting to complex or changing scenarios.
The recent Italian regulation has modified the fiscal framework of the trust, shifting attention from the constitution to the final phase of distribution of assets, therefore requiring more accurate planning to avoid fiscal surprises.
In addition, property planning documents and the real estate plan constitute the basis to protect and transfer assets effectively and according to the wishes of the owner.
Boschetti Studio Legale has in its team lawyers experienced in the drafting and management of such documents, a competence crucial to ensure compliance with local regulations and to protect the inheritance from unforeseen legal or fiscal risks.
Legal advice for patrimonial planning for a foreigner in Italy
For a foreigner residing in Italy or for a person residing abroad with Italian assets, patrimonial planning can present particular challenges. Fiscal regulations and succession laws can vary significantly from one Country to another, and for this reason, the intervention of a lawyer for international patrimonial planning becomes fundamental. A law firm for tailored patrimonial advice for foreigners residing in Italy is able to guide the client through Italian fiscal and succession regulations, identifying the most effective strategy to protect and manage assets in compliance and with attention to legal particularities.
Our legal assistance covers all phases of business succession planning, from the choice of the most appropriate instrument (such as trust, donations or family pacts) to the drafting of specific documents, taking into account any applicable taxation. Thanks to the competence of legal experts, it is possible to protect the patrimony in line with Italian regulations, ensuring that the wishes of the client are respected and that assets are transferred without conflicts and in the best interest of the beneficiaries.
Typical scenarios / Case studies
The typical scenarios have been developed by combining the most significant family law situations that our firm regularly handles, creating structured and realistic examples designed to help readers better understand and navigate their own legal matters. The case studies, on the other hand, are based on real cases handled by our firm, with all personal data and identifying details anonymised to protect client confidentiality.
Registering a cohabitation agreement and regularising the status of a foreign partner
A couple living in Rome, consisting of an Italian citizen and his foreign partner without valid residence documents, sought legal protection for their relationship. An urgent application under Article 700 of the Italian Code of Civil Procedure was filed to safeguard their cohabitation, followed by proceedings to obtain an EU family member residence card.
Adult adoption to legally recognise a de facto family relationship
A United States citizen living in Rome sought to formalise a long standing family relationship with his uncle by marriage through adult adoption. Proceedings were brought under Articles 291 et seq. of the Italian Civil Code to obtain legal recognition of their established family bond.
Cohabitation agreement for an Italian Brazilian couple: protecting assets and securing residence rights
An Italian entrepreneur and his Brazilian partner had been living together in Milan for three years. Their situation involved three interconnected legal vulnerabilities relating to immigration, asset protection and succession planning, all addressed through a coordinated legal strategy.
Adoption in Colombia: an Italian couple fulfils their dream after a three year journey
A couple married for eight years embarked on an international adoption in Colombia. The procedure involved two legal systems, three Italian institutions and the Colombian Central Authority, requiring careful coordination throughout every stage of the process.
Succession involving heirs in four different countries: coordinated management across Italy, the United States, the United Kingdom and Switzerland
An Italian entrepreneur left assets located in Italy, the United States and Switzerland, with four heirs residing in four different countries. The matter required the parallel coordination of four legal systems and four tax regimes.
Adult adoption of a partner’s child: legal recognition of a twenty year family bond
A fifty eight year old man seeks to adopt his wife’s thirty year old son, whom he has helped raise for twenty years. Although the relationship was genuine and long established, it had no formal legal recognition, with significant implications for the biological children’s inheritance rights.
Challenging a will for infringement of forced heirship rights: €800,000 recovered for the heirs
Two children inherited only €20,000 each under a will that left almost the entire estate to their late father’s second wife. An action to enforce their forced heirship rights was successfully resolved through mediation.
Succession planning for a family business: transferring a €3 million business to the next generation
A sixty two year old entrepreneur needed to transfer ownership of a company employing fifty people to the son who had been managing the business, while safeguarding the interests of his daughter, who had chosen a different career path. A family agreement and a holding structure ensured business continuity and long term stability.
International adoption by a single parent: when the law opens a path few people know exists
A forty five year old single woman embarked on an international adoption. Although legally possible, this route remains little known and requires a carefully planned legal strategy from the very first stage, beginning with the application for the certificate of suitability.
Digital inheritance: recovering cryptocurrencies and digital assets after death
A professional passed away leaving more than €600,000 in cryptocurrencies held across multiple wallets and exchanges, without providing any access instructions. A substantial digital estate was at risk of being lost forever.
Legal name change for a transgender person: aligning official documents with gender identity
A thirty two year old professional, who had been undergoing hormone therapy for eight years, still had official documents bearing the male name assigned at birth. This discrepancy repeatedly forced unwanted disclosure of her gender identity in professional, banking and administrative settings.
Legal gender recognition and the update of more than 20 official documents: from court judgment to a new legal identity
A forty five year old executive had already obtained a court order granting legal gender recognition but was then faced with the real challenge: coordinating the update of an identity card, driving licence, university degree, employment records, mortgage documentation and insurance policies across multiple authorities, each with different procedures.
Legal advice for patrimonial planning for a foreigner in Italy
The choice of the best instrument for patrimonial planning depends on the characteristics of the patrimony and on long-term family objectives. For those who own a complex or diversified patrimony, such as real estate, business shares or international assets, flexible instruments such as the trust can offer sustainable management over time and protect assets from legal and fiscal risks.
If the main objective is to ensure business continuity, instruments such as the family pact allow transferring assets with equity and harmony.
Personalised advice from a specialised firm is often essential, since it allows building an effective, informed strategy in line with the regulations in force, even when it concerns patrimonial planning for a foreign citizen in Italy. Patrimonial planning is therefore a process of central importance, which not only protects the patrimony but also ensures the serenity and security of one’s loved ones for the future.
Fill in the form to allow us to assess your case. We will contact you back within 48 working hours to inform you whether and how we can assist you.
This form is reserved for those who need legal assistance on a concrete situation. We do not provide free advice nor answers to generic queries by email. If you have a case that requires professional assessment, fill in the form: we will contact you back for a first exploratory meeting.
Via dei Gracchi, 151
00192 Rome – Italy
info@familylawboschetti.com
Phone: + 39 – 06 889 21971
By appointment only
Days: Monday – Friday
Opening hours: 9.00–13.00 / 16.00–20.00
What are the 4 phases of the patrimonial advice process?
The four phases of the patrimonial advice process:
• The analysis phase, which provides for the gathering of information on the financial situation of the client and on their objectives.
• The planning phase, in which the advisor develops a tailored strategy for patrimonial management.
• The implementation phase, which focuses on the implementation of the planned strategies.
• Finally, the monitoring phase, which allows periodically assessing the results and making changes as needed.
What does the patrimonial lawyer do?
The patrimonial lawyer offers support to protect and optimise the patrimony of clients, with advice on investments, succession, asset protection and fiscal planning.
This role is essential to ensure efficient patrimonial management, reduce legal risks and prevent disputes, as well as to provide solutions for the transmission of assets.
What does an immigration lawyer do?
The immigration lawyer assits clients in all matters relating to the rights of foreigners, such as obtaining residence permits, visas, citizenship and assistance for family reunification. They represent clients in expulsion cases and ensure that the rights of immigrants are respected, supporting them in bureaucratic and legal procedures.
How much does an immigration lawyer cost?
The cost of an immigration lawyer varies considerably according to the complexity of the case, such as obtaining a visa, citizenship or defending oneself in expulsion proceedings.
Some lawyers offer hourly rates, while others propose packages with fixed amounts for certain matters, making the overall expense variable.
