Legal & Fiscal Implications Related To Succession

Succession planning is a critical legal and financial consideration that affects individuals, families, and businesses alike. Whether through testate or intestate succession, the process of transmitting assets causa mortis carries significant legal and fiscal implications, particularly in relation to estate distribution, inheritance rights, and taxation.

With real-world examples and analysis, the session will provide a comprehensive overview of both the legal and fiscal aspects of succession, offering practical insights to help individuals and professionals navigate these complexities effectively, including reserved portions, forced heirship rules, wills, and cross-border succession under EU Regulation 650/2012. A special focus will be placed on the fiscal aspects of inheritance, particularly the tax implications arising from the transmission of assets causa mortis, including:

• Succession Duty in Malta – Understanding the 5% tax on immovable property and its calculation based on market value;
• Exemptions and Reductions – Exploring relief measures, such as exemptions for spouses and direct descendants inheriting residential property;
• Fiscal Consequences of Delayed Tax Payments – Addressing the impact of late payments, including the application of 8% annual interest on outstanding succession tax.
• Strategic Planning for Tax Efficiency – Reviewing tools such as donations, usufruct reservations, trusts, and foundations to mitigate tax burdens while ensuring a smooth transmission of wealth.

The Speaker

Notary Clinton Bellizzi holds a Bachelor degree in Sociology and a Doctorate in Laws from the University of Malta. He was awarded the Warrant of Notary Public on the 17th June, 2003 and is also a Commissioner for Oaths.

Notary Clinton Bellizzi's practice is housed at BELLIZZI LEGAL OFFICES, in the heart of Valletta, providing all the essential Notarial services, including authentications and attestations, real estate conveyancing, estate planning and succession, matrimonial agreements and property/business financing.

Notary Clinton Bellizzi also lectured at the University of Malta on Notarial law, title registrations, guarantees and conveyancing as a visiting lecturer and dissertation, term papers and thesis supervisor.

He has participated in a number of international conferences and symposia ranging from European succession regimes to circulation of authentic instruments and represented the Maltese Notariat during meetings of the Council of Notaries of the European Union (CNUE) as President of the Maltese Notarial Council (Kunsill Nutarili ta' Malta).

With a penchant for everything revolving around information technology, data security, data governance and enhanced User Experience, Notary Clinton Bellizzi participated in a number of national initiatives aimed at transposing Notarial services to the digital world, from deed registration to title searches and office management. Collaborations with key academic, professional and administrative entities, led to best practice recommendations in information security for Notaries and drafting of a common policy for digital heritage regulation together with a comprehensive nation-wide data governance strategy to include DLT, electronic identity and AI solutions.