Free guide
Trusts in 12 questions.
The questions families ask most often, answered in plain words. General information: every situation deserves its own assessment.
- 01
What is a trust?
An arrangement in which a settlor transfers assets to a trustee, who holds and manages them for beneficiaries or for a purpose, following the rules written in the trust deed.
- 02
Who are the people involved?
The settlor, who creates the trust; the trustee, who manages it; the beneficiaries, who receive its benefits; and often a protector, who supervises the trustee.
- 03
Is it recognised in Italy?
Yes. Italy ratified the Hague Convention of 1 July 1985 with Law 364 of 1989. Trusts governed by a foreign law chosen by the settlor are recognised.
- 04
What does segregation mean?
Assets in the trust are separate from the personal assets of both the settlor and the trustee. They follow the rules of the trust, not the personal events of the people involved.
- 05
Trust or fondo patrimoniale?
The fondo patrimoniale is limited to spouses and civil partners and to family needs. A trust can include any asset and any beneficiary, with rules that can last beyond one generation.
- 06
Does a trust protect against creditors?
A trust created to escape existing creditors can be challenged and set aside. It is a tool for organisation and continuity, to be designed in good time and for legitimate purposes.
- 07
Can it help pass on a family business?
Often yes. It can hold company shares and set who manages and who benefits, with rules that last beyond the founder.
- 08
Can it hold works of art?
Yes. It can set where works are kept, how they may be lent or sold and who will receive them, keeping a collection whole.
- 09
Can it protect a fragile family member?
It is one of its most important uses. In Italy, Law 112 of 2016, known as "Dopo di noi", provides specific rules for trusts that protect people with severe disabilities.
- 10
Which law governs it?
The law chosen by the settlor, among those that provide for trusts. The choice depends on the assets, the people and the countries involved.
- 11
How is it taxed?
It depends on the type of trust and on where it and its beneficiaries are resident. In Italy the rules were reorganised by the Revenue Agency with Circular 34/E of 2022. Always assess it case by case.
- 12
Where do I start?
Not from the deed, but from the family. A confidential conversation clarifies goals, people and assets, and whether a trust is really the right tool.
Private consultation
Every family begins with a conversation.
Six questions, two minutes. You receive your three priorities and choose a time for a confidential conversation.
Request a private consultation