A’detailed analysis of the trust and legal institutions such as the asset fund and the fiduciary assignment was carried out during a study seminar promoted by the Order of Chartered Accountants and Accounting Experts of Naples North, chaired by Francesco Matacena.
“The event it allowed us to ‘explore’ the opportunities offered. Particular attention was paid to the fiduciary assignment, with a reflection on its functional profiles and its relationship with the destination stores and the trust. This comparison – highlighted Matacena – between notarial practice and academic insights has led to a more detailed understanding of a crucial aspect of property law, representing a moment of discussion and exchange of knowledge between professionals in the sector and scholars, thus helping to outline a more complete and clear picture of the current legal panorama regarding trusts and related institutions”.
Maria Antonia Ciocia (director of the Department of Economics at the University of Campania Luigi Vanvitelli), underlined the interest of professionals on such a complex topic. «This is a positive sign that demonstrates how much the accountants of the Order of Naples North are updated with respect to changes in economic dynamics, not only at a local but also international level. With the introduction of the trust into our legal system, the importance of examining the topic not yet fully assimilated into our legal system and professional practice becomes evident.”
Alessandro De Donato, president of the Notary Council of Santa Maria Capua Vetere, underlined the importance of collaboration between professionals: «The central core of the message we want to convey is the ability to work synergistically. I would like to underline the historical importance of the relationship with the Order of Chartered Accountants and Accounting Experts, a fundamental link both for the notary profession and for the accounting profession. Discussing trusts means not only analyzing asset management, but also understanding its relevance both in terms of direct and indirect taxes. Therefore, topics that involve different professionals must become common ground to be cultivated together, in order to reach solutions that guarantee complete legal and fiscal protection».
Second Tina Bove (managing director of ODCEC Napoli Nord) «although the trust is a ‘niche’ topic, it is at the same time broad and requires a clear definition. The goal is to extend awareness of this issue within our category and to collaborate with other professional bodies. During the focus, we focused exclusively on asset protectionboth for companies and private individuals. Further events are being planned to explore the details and the most suitable solutions.”
The debate, introduced by Diego Musto (vice president of the accountants and accounting experts of Naples North), was moderated by Joseph Approved (president of the Trust Commission) who supported the importance of a multidisciplinary approach in dealing with the topic of trusts during a recent conference, which also involved accountants. Currently, the trust still encounters difficulties in finding space in our territory, as the topic is treated in a limited and often superficial way. Here, we aim to discuss it in an in-depth and constructive way. The trust is not exclusively a tool for large businesses, but can also be used by small businesses and individuals. It is important to underline that any individual, regardless of the size of the estate, can benefit from the trust. For example, even a home can be subject to risks, such as in the event of a bicycle accident involving third parties. By having your home placed in a trust, you can avoid the risk of losing it, just as you can protect other assets by creating a trust.
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