Generational transition: an inheritance of well-being, not discord

We plan the transfer of wealth today, simulating tax advantages and consequences, with legal and notarial partners when a specialist view is needed.

In short

  • Without a will, statutory succession applies, dividing the estate according to fixed shares set by law.
  • Spouses and children each have a €1 million allowance; above that, the rate is 4%, plus mortgage and cadastral taxes on property.
  • A family business with no transition plan risks being split between heirs with different interests, putting its continuity at risk.
  • We simulate the tax heir by heir and build concrete scenarios, staying your point of reference throughout the process.

What happens without a will?

If there is no will, statutory succession applies: the estate is divided among spouse, children and other relatives according to shares fixed by law, with no room for choice. This works for simple situations, but it does not account for particular circumstances — blended families, an unmarried partner, a child who has already received financial support during your lifetime, a business to pass to whoever can actually run it. In these cases a will, drafted with a notary, lets you steer the division within the limits of the statutory reserved share owed to closer heirs.

How much does it cost, in tax, to transfer an estate?

Inheritance tax applies to the net value inherited, with different allowances and rates depending on the degree of kinship. Spouses and children each have a €1 million allowance, with a 4% rate on the excess. Siblings have a €100,000 allowance with a 6% rate; other relatives up to the fourth degree pay 6% with no allowance, and unrelated beneficiaries pay 8% with no allowance. On property, mortgage and cadastral taxes are added, generally 2% and 1% of the value.

How is the continuity of a family business protected?

A business split among several heirs with different visions and abilities risks losing efficiency exactly at the point of transition. The family pact allows the business to be transferred, during your lifetime, to the heir who will run it, with financial compensation for the others — avoiding both fragmented ownership and conflicts that drag on for years. It is a tool that needs to be built well in advance, together with a notary and accountant.

Who it is for

When is it worth starting to plan?

This is not a topic to address only once it becomes urgent. These are the situations that deserve early attention.

You have a family business

Its continuity depends on a planned transition, not one left to statutory succession.

You are part of a blended family

Statutory succession does not automatically distinguish between the needs of children from different relationships.

Your wealth is mainly property

Your heirs may not have the liquidity to pay the taxes within the required deadlines.

You have young children

You need clarity on guardianship and management of the estate until they come of age, not just on division.

What changes in practice

Four numbers of succession

€1 million The allowance for spouses and children, each, before the tax applies
4% / 6% / 8% The rates by degree of kinship: spouses and children, siblings and other relatives, unrelated beneficiaries
2% + 1% Mortgage and cadastral taxes, generally applied to the value of property transferred
€100,000 The specific allowance for siblings, before the 6% rate applies
How we work

From mapping wealth to transition, in five steps

  1. 01

    We map your wealth

    Property, investments, business shares: a complete picture to start from.

  2. 02

    We simulate the tax per heir

    Allowances and rates applied to your specific case, not a generic example.

  3. 03

    We build the scenarios

    Will, gifting, family pact: the concrete options for your situation.

  4. 04

    We bring in notary and lawyer

    When a specialist view is needed, we coordinate the right partners, staying your point of reference.

  5. 05

    We review over time

    Births, marriages, new ventures: every family change can call for the plan to be updated.

The mistakes we see most often

Three ways a succession goes wrong

Delaying until it becomes urgent

Planning done under pressure, during a health crisis, leaves far less room for choice than planning done calmly.

Policies with a beneficiary never updated

A beneficiary named years ago and never reviewed, after a marriage, a separation or the birth of a child, may no longer reflect your actual wishes.

Insufficient liquidity for the taxes

An estate mainly made up of property can leave heirs without the cash needed to pay the tax within the legal deadlines.

How much will your heirs pay? Our simulator calculates inheritance tax and mortgage/cadastral taxes for each heir, on your specific estate.
Go to the simulator →
Frequently asked questions

What we are asked most often

It depends on the degree of kinship and the value inherited. Spouses and children each have a €1 million allowance, above which a 4% rate applies. Siblings have a €100,000 allowance with a 6% rate, other relatives up to the fourth degree pay 6% with no allowance, and unrelated beneficiaries pay 8% with no allowance. Mortgage and cadastral taxes are added on top, generally 2% and 1% of the value of any property transferred. We simulate the tax heir by heir on your specific estate.
It can make sense in some cases, because it lets you see the effects of the transfer while you are alive and spread the tax burden over time, but it also comes with constraints — for example on the future free disposal of the gifted asset. It is not the right choice for every estate: we assess together whether gifting is the right tool for your situation, or whether other solutions fit better.
It is not mandatory: without a will, statutory succession applies, dividing the estate according to shares fixed by law. A will becomes important when you want to address particular circumstances — blended families, a business to pass to a specific heir, an unmarried partner — that statutory succession cannot take into account. We always work with a notary to draft one.
Without specific planning, a business risks being split between several heirs with different interests and abilities, putting its operational continuity at risk. Tools such as a family pact allow the business to be transferred to the heir who will actually run it, providing compensation for the others. It is a path that needs to be built well in advance, not at the last moment.
This is one of the most overlooked points in succession planning. If wealth is concentrated in property or business shares, heirs may not have the liquidity needed to pay inheritance tax within the required deadlines. We check this in good time, identifying solutions — including insurance-based ones — that guarantee the liquidity needed at the right moment.

Didn't find your question? Write to us directly — we answer personally.

Read more

If you want to arrive prepared

Planning the generational transfer without conflict

Read the article →

Protecting and passing on your wealth

Read the article →

Real estate wealth

Learn more →

All services for individuals

Go to the section →

Your contacts for generational transition

Giulio Salvador Giuliano De Sandi
Contact

Let's talk over a coffee

The first meeting is about getting to know each other, with no commitment. Write to us or stop by our office in Vittorio Veneto.

Office
Via delle Terme 2, 31029 Vittorio Veneto (TV), Italy
Phone
+39 327 558 4213
Email
vittorioveneto.p13@allianzbankfa.it
Opening hours
9:30 – 12:30
15:00 – 18:30