For inheritance, measures to avoid over-taxation are important, but you should also consider the source of funds for inheritance tax payment: Japanese inheritance tax is due in a lump sum just 10 months after the decedent’s passing.
Also of importance are outlining procedures for smooth transfer of real estate and bank accounts.
Even once you have decided to start planning your legacy, it is difficult to figure out where to start. Completing the necessary procedures in Japan require the help of professionals with various specialized qualifications, and there are few providers who offer a one-stop solution.
Consulting each professional individually can also cause difficulties in terms of cost inefficiency and difficulty obtaining cooperation among experts with differing points of view.
Part of the STK Group, STK Advisors supports legacy planning and inheritance settlement tailored to each client’s needs with the support of a diverse group of specialists in inheritance settlement legal procedures, inheritance tax accounting, and real estate. Our team can also provide consultation for international clients by native speakers in English, Chinese, and Korean.
The best time to start legacy planning is now, while you have time to take action that will protect your assets.