Generation change planning

cambio generazionale

Physical gold for investment is a bearer asset. As stipulated by law no. 7 on 17/01/2000, it’s VAT-free. Why? Because it’s not just metal – it’s currency. And just like any currency, VAT can’t be applied to it. Think of it this way: it’s akin to the 50-euro note you’ve got in your pocket – it belongs to whoever holds it!

However, the situation shifts when we talk about physically-invested gold stored in vaults or security houses under one’s name and officially purchased from Banco Metalli via bank transfer. There are two potential scenarios:

  1. If the owner hasn’t left a will, the gold ownership – supported by the documentation processed by Banco Metalli’s customer service – will be declared in the probate inventory. It will then be subject to inheritance processes based on familial ties (as discussed in the TAXATION chapter). Thus, it will follow standard inheritance protocols, including relevant allowances and/or inheritance tax rates.
  2. If the owner belongs to a broader family context (e.g., live-in partners, separated but not divorced individuals, caregivers, or any other close but unofficial ties as per Italian inheritance law), these relationships don’t usually qualify for legacy entitlements. During my initial consultations, which I like to term “taking measurements,” I encourage clients to consider this. It’s crucial to plan ahead, possibly by drafting a holographic will to allocate the physical gold for investment to the chosen heir, distinct from other assets that will be distributed amongst legally recognized beneficiaries.

Regardless of the above situations (a or b), the inheriting beneficiary will have the following options:

  • Collect all the gold bars physically stored in the vault. Moreover, if the deceased had a recurring purchase plan with gold amounts not yet reaching the chosen minimum weight (20 / 50 / 100 grams), these can only be cashed out and deposited into a bank account in the heir’s name since they’re not yet in bar form.

  • Liquidate all inherited investment gold grams and receive the payment, at one of Europe’s top rates, into a bank account provided to Banco Metalli within days.

  • Take over the existing contract, either as a one-off premium or continue with the recurring purchase plan set by the deceased under the same terms and conditions.

Some final thoughts:

  • We can provide answers and solutions to broader families, who, even after decades under today’s regulations, wouldn’t be able to bequeath assets to their loved ones.

  • We’re the safest gold source in Italy, accompanied by unparalleled services and support.

  • The capital is fully flexible. In the current savings market, there’s no longer a low-risk capital product that’s flexible; everything is tied to medium to long-term commitments.

  • Gold NEVER FAILS. Just think: what if one inherits stocks, bonds, funds, securities, ETFs, etc.?