The Statement of succession needs to be filed by at least one entitled person within 12 months of death. It shall be filled out with all information and data concerning the deceased’s properties. Therefore it is important that it is drafted by a competent independent professional who will be also in the position to submit it to the competent Revenue Office.
– Diritto di precedenza – precedence by proximity
The principle of precedence by proximity of the degree of relationship means that the successor the most closely related to the deceased within the same line of successors – privileged collateral line or ordinary collateral line – excludes more distant relatives from the succession.
– Erede – Heir
He/she is the successor who has accepted the inheritance to which he/she is entitled.
– Legato – Legatee
A legatee is a physical person or legal entity receiving assets or money under the terms of a Will. The quality of legatee is acquired automatically without the need to be formally or tacitly accepted. He/she/it is not considered an heir, and does not have the same obligations towards the succession -for example in case of debts of the deceased.
– Successione legittima – Legal succession
A legal succession is a succession that is not ruled according to the deceased’s wishes as expressed in a Will, but follows rules of the Civil Code.
– Successione per rappresentazione – Succession by representation
In this case, the assets of the deceased, who died intestate, are transferred – also partially, to the descendants by representation. In this case, the entitled successor renounces the inheritance and the corresponding quota is divided into as many equal shares as the surviving descendants in the closest generation.