Korean Inheritance Law: Questions & Answers

Korean Family & Inheritance issues, often, concern legal and tax issues of varying jurisdictions. In many cases, the nationality of the decedent (person who passes leaving an estate), residence of the decedent, location of the inherited property, and the nationality and residence of those inheriting the property shall dictate the law and the applicable taxes applied. In most cases, an experienced estate lawyer and tax professional are necessary to assist in avoiding inheritance and family disputes, lessen tax burdens, and

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Top 100 Korean Lawyers & Legal Consultants in Korea

Sean Hayes, head of the Top Korean Dispute Resolution Law Firm of the Year was rated by LawAsia, one of the leading peer-reviewed publications in Asia, as a Top 100 Lawyer in Korea. Sean Hayes is one of the only non-Korean attorneys on this Korean Lawyer “A-list” and the only non-Korean that was on the list each year the list was published. Sean Hayes is the first non-Korean attorney to have worked for the Korean court system (Constitutional Court of

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Korean Inheritance Law on Registration of Inheritances in Korea

My friends at The Korean Tax Blog have an excellent post called Your Complete Guide to Estate Registration in Korea. The accounting firm at the Korean Tax Blog assists IPG Legal in all inheritance tax matters. For more information on Korean Inheritance Law please see: Who Inherits What, When, and How in Korea?, Renouncing an Estate in Korea and Korean Legal Reserve of Inheritance. The article, notes, in part tips for a successful inheritance. The article notes that for a

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Renouncing an Estate/Inheritance under Korean Law

A typical matter of a party renouncing an estate in Korea commences when a family member in Korea requests the waiver/disclaimer of the right to a Korean inheritance. In some cases, this request is for nefarious reasons. A typical, situation involves the estate of a Korean national decedent with non-Korean family abroad. The estate, often, includes assets in Korea and sometimes abroad. The Korean-based family, often, requests the non-Korean based family to sign a power of attorney or a document

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Legal Reserve of Inheritance for an Estate in Korea

Korea’s Legal Reserve of Inheritance/mandatory share of inheritance (유류분/遺留分) is a specific portion of an inheritance given to heirs notwithstanding the will. Therefore, for example, even if the will notes that a certain estranged child shall not receive any of the inheritance, Korean Law imposes a mandatory share of the estate for this heir. Therefore, the deceased is forced by Korean law to provide a certain percentage of the estate to all legal heirs under Korea’s Inheritance Reserve Law. For an article

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Appointment of a Guardian in Korea

Those abroad or in Korea frequently struggle to comprehend how to safeguard their elderly parents, or family members who are residing in Korea. Don’t fret, a system is in place in Korea to assist families in need. Korean Guardianship Law was revised to meet the growing need for guardians in Korea. For a list of the type of Guardians in Korea please see: The Formalities under the Guardian Law of Korea The need for adult guardianship among seniors residing in

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Appointing a Guardian in Korea under Korea’s Guardianship Law

Often we assist clients with family members or friends in Korea who are better off under the care of a trustworthy person who can manage their personal and property-related responsibilities. Under Korean law, it is possible for a Korean court to appoint a guardian to take care of the best interest of a ward. A “ward” is a person who lacks the capacity, either physically or mentally, to take care of themselves. Thus, courts in Korea can appoint a guardian

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Korean Inheritance Tax for Estates in Korea

IPG Legal lawyers handled numerous inheritance and inheritance tax matters over our nearly two decades handling cases for expats, families abroad, domestic families, and foreigners with residence in Korea. The Korean Inheritance Tax Deductions Chart and the Korean Inheritance Tax Rate Chart were drafted since many clients contacted us wishing to understand how to calculate inheritance tax and how to save on inheritance tax. Please note, that this is a basic chart, and exceptions, sometimes, apply based on particular situations.

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Top Law Firms in Korea for English-Speaking Clients According to 10 Magazine

We are proud to note that 10 Magazine listed us in an article titled 10 Lawyers in Seoul for English-Speaking Expats in Korea. IPG is listed under the title Large/International Law Firms. Thanks for the mention 10 Magazine. We love your work. IPG Legal and many of our lawyers were listed as top attorneys by numerous legal rating services and magazines. Sean Hayes was, also, rated a top 100 Attorney. The article by 10 Magazine on the law firms in Korea

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Navigating Korea’s Inheritance Law: Korean Inheritance Laws Basics Explained

Sean C. Hayes and the team at IPG Legal field many inquiries from international clients for assistance with inheritance issues in South Korea. Many clients that we talk with are children of Korean descendants who have passed away without a will. For an article on Korean estate taxes, please See Korean Inheritance Taxes. This week we saw another ruling on inheritance issues with the surviving family of K-pop star Goo Hara. After a nine-month battle, the Gwanju Family Court ruled

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