The scenario: a person of cosmopolitan assets, with an apartment with a view of Manhattan, an elegant villa on Lake Como, bank accounts scattered around the globe, and shareholdings in thriving American company. It is a mosaic of an estate that, at the time of his sudden death, becomes a puzzle for his heirs to solve. Grief is inexorably intertwined with questions: “What exactly did the deceased leave behind and, above all, who is entitled to it?” In Italy, the process of succession is something of an obstacle course. Each declaration has its specific meaning and a strict role to play. It is a question of figuring out which documents are required and establishing a procedure that ensures full awareness of the context while reducing stress levels for all those involved. The whole process is already not a simple one when confined to the national level, but becomes significantly more complicated when different languages and jurisdictions are involved, with documents
drawn up according to foreign regulations and where offices that demand strict compliance with their own rules.

Essential Italian documents
Our heirs must start from a fixed point: the death certificate or extract, issued by the local council. This officially opens the door to the inheritance procedures and alongside this, the certificate of last residence identifies the municipality for the submission of the
declaration.
From this start, there follows the requirements for the identity documents and health cards of the deceased and of the heirs, needed to clearly identify all parties. If any of the direct heirs are already deceased, their descendants take over, providing their tax codes as validated by the Revenue Agency.
Where real property is in play, the title deeds and any urban planning and land registry documents are essential, as ownership has to be proven and the current status of the estate frozen as of the time of death. At the same time, the declaration in lieu of affidavit sets out the details in black and white: the date and cause of death, the list of the heirs, the type of succession (through operation of law testamentary) and the property regime of the surviving spouse, that is to say whether the spouses had opted for separate or joint
estates in marriage.
If the deceased had drawn up a will, a copy published by the notary must be attached.
There is also the possibility of renunciation of inheritance or acceptance with the benefit of inventory, legal instruments that serve to protect heirs from such unpleasant surprises such as hidden debts.
Cash assets, such as current accounts, deposits, and passbooks, must be indicated through a declaration of existence of assets. If there is a safe deposit box, a report of its opening in the presence of heirs or a notary will be required. It must not be forgotten
that any outstanding debts or company shareholdings be reported, for which Chamber of Commerce reports, financial statements and updated valuations are required.
Even funeral expenses, if incurred by heirs who are not direct descendants, are documented and included in the overall picture. Finally, the Revenue Agency requires the current account IBAN number of the person declaring the inheritance (one of the heirs,the legatee, the executor of the will, or the administrator of the estate). This is essential, and the account must not be jointly held with the deceased.

Then it is up to the heirs to fly across the pond the check on the assets in the United
States
Here the fun really starts. When assets are distributed between Italy and the United States, the whole thing becomes much more complex. American certificates, wills written in English, foreign notarial or banking deeds: everything must speak the language of the Italian authorities. An ad hoc translation is really not enough. True, sworn, and legalised translations are required so that each document can be regarded as valid and recognised for all purposes.
In the United States, the main documents that our heirs must request are:

• Death Certificate, issued by the state of residence;
•  Probate Records or Letters Testamentary / Letters of Administration, issued by
  the Probate Court, certifying the opening of the succession and the authority of the
  executor or administrator;
• The will, in the version filed and certified by the competent court;
•  Trust Documents, if the deceased had set up a trust to manage their assets;
• Bank Statements and Brokerage Statements, issued by American institutions to
  prove balances and ownership of accounts or investments;
• Property Deeds and Title Reports, for real estate in the US, certifying ownership
  and mortgage status;
• Tax Returns and federal or state tax returns (in particular IRS Form 706 for federal
  inheritance tax, if applicable).

To be used legally in Italy, all these documents must be translated by professionals and accompanied by an Apostille in accordance with the Hague Convention, to assure their legal validity and capacity for recognition.

The services offered by Globostudio

Villas, houses, bank accounts, securities, shareholdings: the numerous heirs begin to weave their dreams and take steps to work out how best to manage what has come to them through inheritance. International succession is never a walk in the park; it requires expertise, precision and great attention to detail, but with the right support, it can be manageable and above all a process free from pitfalls. We are available for consultations and to assist in the complex process, supported by American lawyers and accountants with the necessary experience to handle the transition.