Inheritance
What is the “renunciation of inheritance”?
Renunciation of inheritance means that the heir refuses to inherit all of the inherited property including debts.In order to renounce inheritance, the heir must make a statement to the family court within three months from the date on which he/she became aware of the commencement of inheritance.Unlike renunciation of legally reserved portion, renunciation of inheritance […]
What is the “adult guardianship system”?
The adult guardianship system is a system where you can receive protection and support when you are elderly and feel uneasy about managing your own property or making contracts.The adult guardianship system includes the legal guardianship system and the voluntary guardianship system.In the case of legal guardianship, the family court appoints a guardian, so even […]
To avoid succession proceedings
After the decedent passes away, each heir will inherit the property after going through the inheritance procedures.However, in the case of an elderly couple living alone, it is difficult for the surviving spouse to carry out inheritance procedures, so some people are wondering if there is a way to simplify it.There is a “Testamentary Substitute […]
Precautions for writing a last will and testament
There are three types of "last wills and testament": "notarial last wills and testament", "secret last wills and testament", and "self-written last wills and testament".In order for the "a last will and testament" to be valid, it must be prepared in the "statement method in accordance with the provisions of the law".If it is a […]
What is a "Successor bequest"?
"Successor bequest" means that the bequest is made in two stages as follows at the will of the testator.① It will be bequeathed from the testator to the first bequest.② Due to the conditions and deadlines set by the testator, the bequest will be made from the first bequest to the second bequest.For example, a […]
Precautions when using the "self-written last will and testament storage system"
The "self-written a last will and testament storage system" is a system for storing "self-written a last will and testament" that started on July 10, 2020 at the will storage.The biggest advantage is that there is a notification system when the testator dies. There are two types of notification system in this notification system.a) Notice […]
When one of the heirs receives the life insurance death benefit that the decedent was paying the premium
When the decedent dies, the property left by the decedent is usually subject to inheritance by the heir as an inheritance property, but in the case of life insurance money, the decedent's property is based on the insurance contract. It is not an inheritance property as it is received by the heir upon death.However, if […]
What is legally secured portion？
As a general rule, a person can seriously dispose of his or her property by giving a gift or bequest during his lifetime. However, for certain heirs, there is a certain percentage of the inherited property that is legally guaranteed to be acquired.This is called legally secured portion.The relationship betweenlegal portion of legacy and legally […]