Do you need an executor for your Italian will?
Article 700 Civil Code establishes the possibility for the testator to appoint a will executor, namely the trustworthy individual which task is making sure testator’s last wills will be properly carried out. The executor might be an heir or the legatee.
The executor appointment shall be accepted in writing before the registry of the Court where the inheritance process has been started. The nominee is required to explicitly accept the appointment and, in some case, it is possible to fix a time period for the acceptance.
According to the art. 703 Civil Code, the will executor is involved in the proper management of inheritance estates while making sure testator’s last wills will be properly carried out. Within this context, the will executor may undertake all necessary management decisions according the duty to exercise the ordinary care and due diligence. With such purpose, the executor needs to take possession of inheritance estate for one year. This time period could be extended for one more year.
In the event it is required to transfer the inheritance estates, the executor shall ask official authorisation to the Italian Judicial Authority. Therefore, it is relevant to make clear that the executor is the appointed person to manage inheritance estate but, on the contrary, the effect of such management is a matter that falls within heirs’ financial sphere.
In the event the executor is not an heir, it is possible (under other heirs’ authorisation) to ask the executor to proceed with the division of their property between the heirs. Last, the executor might be deprived from its office in presence of irregularities that may diminish the trustworthiness of its functions.
VGS lawyers professionals have developed expertise in dealing with will executors and heirs with conflicting visions and approaches. Should you need any advise on this matter please contact us through the form you can find in this page.