The Korean Law Blog’s family-law coverage covers Korean marriage, divorce, property division, child custody, child support, international child abduction to and from Korea, adoption, and adult guardianship, with particular attention to foreign nationals and families with connections to more than one country. Its related Korean inheritance and estate-planning articles examine how to protect and transfer family assets in Korea and abroad. This collection brings together practical guides, case commentary, legislative developments, and family-law resources, organized by subject for easy reference. Each title links directly to the article
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Gifts as Compensation for Support of Korean Parents Excluded from Legal Reserve of Inheritance in Korea
The Korean Supreme Court has reaffirmed that property gifted as compensation for long-term support or caregiving of a deceased parent may be excluded from special benefits subject to the calculation of the Korean legal reserve of inheritance, to the extent corresponding to such contribution. The ruling is based on the reasoning that since the retroactive effect of a Korean Constitutional Court ruling of unconstitutionality applies to cases pending in court at the time, even if the parties did not file a request for a constitutional review, the
Continue readingCross-Border Estate & Trust Planning for Foreign Residents in Korea and Korean Families with Heirs Abroad
As South Korea continues to attract foreign entrepreneurs, executives, and long-term residents, an increasing number of expatriates and multi-nationality families are discovering that their estate and trust structures, often established under foreign law, do not comply with Korea’s civil-law inheritance system and Korean inheritance and tax laws. When a family member passes, the combination of Korean statutory succession laws, foreign wills, offshore trusts, and cross-border assets can give rise to complex legal conflicts, international tax complexities, and unexpected disputes. Proactive estate planning is therefore essential to prevent
Continue readingInheritance Asset Checks for Heirs of a Korean Estate
When a person with Korean nationality or assets in Korea passes away, heirs (both Korean and foreign) often face significant challenges in identifying, verifying, and properly accounting for all the deceased’s assets (and liabilities). A thorough “asset check” is an essential first step. For an article on the basics of Korean Inheritance Law, please see: Korean Inheritance Law Q& A. Inheritance Asset Checks in Korea An inheritance asset check in Korea is the process by which heirs (or their representatives) identify and verify all of the decedent’s
Continue readingKorean Inheritance Law and Cross-Border Estate Planning under Korean Law: A Comprehensive Guide
Korean inheritance law is complex and ever-changing, particularly when family and estate matters cross international borders. Issues of jurisdiction, nationality, residence, asset location, and inheritance taxation often overlap. The nationality of the decedent, the residence of both the decedent and the heirs, and the situs of assets may each affect the applicable inheritance law and tax treatment. For more information on Korean inheritance law, please see: IPG Legal’s Inheritance & Estate Law Archive. For this reason, retaining an experienced Korean inheritance lawyer and a proactive tax professional is
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