Trust law defines a trust as a juridical instrument by which one person (the settlor) transfers the legal title of assets, after the death or with an inter vivos deed, to another person (the trustee), in the interest of a beneficiary or for a specific purpose.
Italian law recognizes three types of trust:
- Trust established abroad: this type of trust can be established with a testament (will) or with an inter vivos deed by foreign citizens.
- Trust established in Italy regarding foreign assets: this type of trust is established by Italian citizens with assets in a foreign country.
- Trust established by foreign citizens regarding assets in Italy.
Trust law: categories of trust
According to trust law, a trust can be:
- Autodestinato (self-destined): when the settlor and the beneficiary are the same person. The trust is therefore established for one’s own benefit.
- Autodichiarato (self-declared): when the settlor and trustee are the same person.
At My Lawyer in Italy, we assist international clients with cross-border trust planning, tailored to foreign citizens establishing trusts abroad or managing real estate, probate, and tax assets in Italy. Our experienced bilingual attorneys guide you through drafting valid inter vivos deeds and testamentary trusts, safeguarding your family legacy seamlessly.