Like in most jurisdictions, the recognition of a will by a court of law requires precise formalities. We advise that most people have a will. For individuals with wills that shall be governed by Korean Law the formalities are noted below. We have omitted two forms of wills – a will by audio recording and dictation. These types of wills pose issues of authentication of the decadent and we believe it is not advisable – in most cases.
- Korean Holographic Wills
A Holographic will is a handwritten will. For a holographic will to be enforceable in Korea the will should meet the following formalities:
- Written by the descendant
- Note the descendant’s name and address
- Sealed or contain a thumbprint.
- Additional details on holographic will may be found at: Korean Holographic Wills
- Korean Notarized Wills
- Will is executed before a Korean notary
- Two witnesses should be present at the notary office
- Notary verifies the signature and IDs of the testator and the witnesses
- The will must be reduced to a writing.
- Korean Private Wills
- An envelop must be sealed and contain a will inside the sealed envelop. It must be clear that the envelop was never opened before death.
- The outside of the envelope must note it contains a will.
- The outside of the envelop must contain the date of signing of the will.
- Two witnesses should seal the outside of the will.
- A notary must notarize the envelop.
For more details on execution of wills please see a post we write on: execution of wills in Korea. For an explanation of Korea’s inheritance Law please see: Who Gets What When & How: Inheritance Law Basics.
- Korean Wills: Korean Estate Law Basics
- Enforceability of Korean Executed Holographic/Handwritten Wills in Korea
- Navigating Korea’s Inheritance Law: Korean Inheritance Laws Basics Explained
- Wills, Trusts, Pre-Nuptial Agreements, Living Wills, and Power of Attorneys in Korea
- Korean Inheritance Tax for Estates in Korea
- Korean Inheritance Law: Who Inherits What, When & How in Korea?
- Korean Intestate Succession Law: Inheriting Property from your Korean-National Parents
- Renouncing an Estate/Inheritance under Korean Law
- Can Foreigners buy Real Property in Korea? Korean Real Estate Law for Non-Korean Residents and Non-Residents
- Expiration Versus Termination of a Distribution Agreement in Korea: Korean Distributor Basics
You must log in to post a comment.