Cone Marshall Trustees (Italia) Srl is an Italian trust company focused on secure and efficient wealth planning and succession for our international clients. Our team of highly skilled attorneys specialize in complex multi-jurisdictional wealth planning.
Cone Marshall Trustees (Italia) is part of the Cone Marshall Group, a leading independent and international fiduciary service provider with offices in over 14 countries. Collectively, the Cone Marshall Group administers more than 2,600 trusts and related entities, holding more than $30 billion in assets.
THE BENEFITS OF A TRUST
A trust is a legal arrangement where the settlor transfers assets to trustee. The trustee administers the trust assets impartially, and for the benefit of the trusts’ beneficiaries, or for a specific purpose. A trust protector may be appointed for an additional layer of oversight and control.
Trusts in Italy serve various purposes, including:
- Succession Planning: Trusts facilitate the distribution of assets according to the settlor’s wishes, helping to manage wealth over time and potentially reducing conflicts among heirs.
- Asset Protection: Trusts preserve assets against potential legal, financial, or inheritance-related risks for the settlor.
The assets transferred to the trust no longer belong to the settlor. - Commercial and Financial Operations: Trusts can be used for managing corporate assets, providing guarantees, or handling investments.
Trusts in the Italian legal system are a versatile instrument for asset management and protection, despite not being explicitly regulated by national law. Their validity in Italy stems from the ratification of the 1985 Hague Convention, which came into effect in 1992.
TRUST AND TAXATION IN ITALY
The taxation of trusts in Italy has evolved over time:
- The 2007 Financial Law included trusts as entities subject to corporate income tax (IRES).
- Circular No. 34/E of 2022, issued by the Italian Revenue Agency, established that trusts are subject to direct and indirect taxation depending on their classification.
Italian courts recognize trusts as long as they comply with mandatory rules, and were not established for the purposes of tax avoidance. Trusts are a widely used planning tool in Italy due to their flexibility, international recognition, and judicial interpretation.
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Contact Us
Cone Marshall Trustees (Italia) Srl
Via della Spiga, 52
20121 – Milan, Italy
+39 02 800 123 79
italy@conemarshall.com