Acknowledged in Italy, the Hague Convention of 1 July 1985 concerning trusts and their recognition has made the introduction of the trust institution possible in the Italian system.
A trust is essentially a judicial relationship between the owner (the person who is the owner of the assets) and the trustee (the person who administers the assets).
The owner transfers such assets or rights to the trustee, who must then administer them on behalf of a third party beneficiary or for a specific purpose.
The main purpose of this institution is to segregate the assets placed in a trust from the assets of the original owner. Namely, assets placed in a trust are separate assets compared to the assets of the trustee and one of the effects of this is that it is impossible for the creditors to seize the assets of a person even if he/she is the owner or the beneficiary.
Naturally we are dealing with a complex and detailed structure that demands the utmost scrupulousness and skill from those who establish and govern it. Therefore, it is important to rely on the advice and guidance of expert professionals.
For several years, the Studio Legale Dionisio has been drawing up such deeds together with all the guarantees and attention they demand.
Always on the subject of asset provision, transfer and management, our firm also deals with:
• acceptance of inheritances
• drafting wills
• court appointed guardianship