Pica

Morbid but practical question.
We've had Italian wills drawn up. My chidren are UK residents and citizens and have been informed of the wills.
So, when one of them has to come and sort things where do they take the wills?

philat98

Was it an expensive and complicated business making your will?

Pica

C.2s

I'm sorry I can't answer your original question, but this is sort of next on the to do list after driving licences...so it will be interesting to see if anyone can answer.

Above all, making a will for me is driven not by financial considerations, but because I don't want my family to be left with difficult things to do. It's bad enough if you know the language and the system, but our kids don't.

One thing I was told was that it's not possible to leave your house (or your half of the house) to someone (not even your spouse), because the law says your half is automatically divided equally between your children. Not sure if this is true.

I've also ssked what happens if we have stepchildren, but just got vague shrugs in response.

Pica

C.2s

Yes it does. Thanks. It's basically what we would want. Did you use a solicitor or a will writing service? (and presumably they are italian?)

Pica

dmu

Hi from the France forum!
No one has mentioned Inheritance Tax.
In France, nominated unrelated heirs (e.g. unmarried "partner", step-children, friend, etc....), wherever they live, have to pay 60% of the value of inherited French property and assets within 6 months of death, or waive the inheritance. It's a minefield for an unmarried couple with children on both sides, and can lead to financial disaster...
As southern European countries often have the same type of legislation, do check whether this applies to Italy, too.
HTH

modicasa

That tax doesnt exist here. But there is the legittima, and a lot depends whether you live here and are resident or not. Just writing a hologrpahic will if you live here and hope it happens as you want is wishful thinking.

philat98

Could you pm me with her email or phone please Pica.

dmu

Lucky you!
The "legittima" exists in France, too, and is intended to protect legally bound spouses who inherit half the deceased's estate, and all their descendants who share the other half equally.
A Notary should explain the "legittima" in complicated circumstances, when Wills are drawn up....
In the event of death, is it the same procedure as in France? i.e. the Notary organises the Succession, not an Executor?

Pica

Have done so

Pica

The holographic wills were translated into italian, then stamped and signed by the avvocato, is that OK? Would you please explain "legittima"?

modicasa

The legittima is where your estate, or at least a portion of it, goes to the next in line. If a husband dies then the estate is divided up between the surviving spouse and the children in a percentage, depending on how many children there are. It doesnt just trasnfer to the surviving spouse. The succession can be done by anyone, but usually a notary unless you want to save money. Any bank accounts will be frozen until the succession is done and you have hawked death certificates round a dozen offices. The legittima goes to spouse, children and parents in that order. Other siblngs, second cousins etc are not included.

dmu

If Italian Law is the same as French, your children are your "rightful heirs" (the meaning of legittima). According to this, if you die first, your children will share all your estate, and your partner will have nothing. If your partner dies first, your children will have no right to his share of the estate as "rightful heirs", since they aren't blood relations. I'm presuming you're joint owners of Italian property - depending on how old your children are, whether they're married with children, this may lead to problems when the first one dies.
I would consult an Italian Notary if I were you, to ask about "usufrutto" for both of you, and your respective shares of your property should remain unchanged during your respective life-times.
Also enquire about the legal advantages of becoming legally bound!
I'm no lawyer, I'm just going by experience and observation, in France to boot. Modicasa will explain better....
P.S. Our posts crossed!!