The Protector and the Disregarded Trust

January 2025

Published by Giuffrè – Andrea Vicari’s new book

The author, Andrea Vicari, comments: "In common law, fitting the trust protector in the legal categories of fiduciary law is an “hard case”, but fitting the protector in civilian categories when trusts have to be characterized under Italian tax rules is even harder.
What duties and powers make the trust protector an office holder of private law, fitted in the internal organization of trust relations? When, on the contrary, the protector should be treated as a mandatary of the settlor? Under which legal grounds, Italian tax authorities can disregard the trust for tax purpose? Italian tax authorities can invoke protector’s powers to disregard the trust as a taxable entity? When? The applicable trust law is relevant in this evaluation process?
Today, these remain the most complex and debated issues in the field of trusts in Italy.
My new book, “The Protector and the Disregarded Trust" recently published by Lefebvre Giuffrè, aims to address these matters through a rigorous analysis of statutory law and case law, offering a systematic reinterpretation that bridges civil law categories, trust governing laws (Jersey and San Marino), and tax rules.

This book is born from practice and designed for practical use, proposing new drafting techniques for trust deeds."

Complete editon

Lawyer

Andrea Vicari

Profile

In brief

- Trust protector: a figure still scarcely regulated in legal doctrine.
- Interpretative gap: uncertainty under both civil and tax law.
- Comparative analysis: San Marino vs. Jersey.
- Disregarded trust: a proposal for a new legal classification.

Indice (143,33 KB)
Estratto (492,32 KB)