A man who died in Guastalla in 2009 left an estate worth billions, which has now been declared vacant by a Modena court and passed to the Italian state as no heirs came forward in 16 years. This phenomenon, driven by an aging population and declining birth rates, sees the state inheriting billions annually.
A surprise provision in a tax law guide could lead to double taxation for trusts and estates, even those with modest income. Experts are concerned about the impact on charitable giving and the need for clarity from Congress or the Treasury Department.
Shanghai has issued new guidelines for handling the funerals and estates of deceased individuals without heirs. The 'Work Guidelines' standardize funeral arrangements, financial asset inquiries, and priority payment of funeral expenses for those with no legal or testamentary heirs.
NS&I will contact thousands of bereaved families in the coming weeks regarding a scandal where deceased relatives' funds were not fully paid out due to identification errors. Payments, including interest, will be made to affected estates totalling £367m.
An official tendering system designed to curb anti-competitive conduct is powerless to combat engineering firms colluding to manipulate Hong Kong’s lucrative building maintenance market, a public inquiry into the city’s deadliest fire in decades has heard. Testifying on the 21st day of an independent committee’s hearing, three Urban Renewal Authority (URA) officials said on Thursday that the statutory body had neither the capacity nor the resources to combat bid-rigging linked to estates’...
Dubai has announced its largest transport project, the Dh34 billion ($9 billion) Metro Gold Line, set to open on September 9, 2032. This 42-kilometer underground line will connect historic districts with new communities, integrating with existing lines and the Etihad Rail. The project aims to significantly improve travel times and boost public transport usage for millions of residents.
