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People tell me that I should take care of inheritance related matters, but what specifically must I do?
Answer from Attorney*First, we must make a will.
We start by calculating the statutory share in inheritance, then adjust the contents of the will so that the clientfs wishes would be respected, and in a fair enough way so that claims concerning abatement for a heir's distributive share would not occur in the future.
When problems occur regarding partition of estates, the reason tends to be the absence of wills or defects in the contents of the will, so it is important to draw up the will with advice and instructions from professionals while alive. We will also take the will in safekeeping in our hands, and execute the will in the event that the client has passed away.
*If the client has been running a business, we will also plan a scheme for stock swaps, amalgamation, merger and acquisition, or other procedures, and offer suggestions.
Answer from Judicial Scrivener*Even if you have assets that you wish to pass on to the future generation, nobody can be sure whether or not you can stay healthy enough to protect these assets on your own. We suggest that our clients make use of the adult guardianship system. By selecting a guardian and signing a guardianship contract, we can be of help when you have by any chance lost the ability to make important judgments.
*In addition, when you plan to transfer ownership rights to your property to your heir, we will do the registration work.
*If you plan to succeed your business to a successor while you are still healthy and active, we will introduce useful systems such as issuing classified stocks, so that you can hand over your stocks while maintaining your power to management of the company.
Answer from Tax Accountant*Measures for tax reduction can only be executed during life. These measures are very important, so as not to leave a burden of large amount of taxes to your precious family, when you pass away. If these measures are properly drawn up during life, tax burdens can be lightened by a large amount in the event that an inheritance actually occurs. We recommend that you start with revealing every property in your ownership, and making a simulation of inheritance taxes.
*Next, we run a test on how taxes may be reduced the most, based on results of the simulation.
For example, if cash is converted into real estate, reduction of assessment for inheritance taxes will become possible. In a corporate entityfs case, an estimate on affiliated firmsf stocks should be made to transfer these stocks to a successor. We will suggest the best way to be ready for inheritance, according to the form of property that our clients own.
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