FAQs about Japanese Inheritance System for US estate planners. 13 September 2023

Featured Presenter:

Hitomi Sakai, Partner, City-Yuwa Partners, Tokyo, Japan

Moderator:

Alan Winston Granwell, Of Counsel, Holland & Knight LLP, Washington, DC

Program Description:

Ms. Sakai will address the following items:

• Is a Japanese will necessary if the US client has assets in Japan?
• Should a US citizen living in the US (US client) with real estate in Japan establish a trust and transfer the property into the trust?
• What happens if a US client having only a US will owns property in Japan?
• What if a US client having assets in Japan passes away without a will?
• What are the forced heirship issues in Japan?
• What if a US client leaves property to a minor living in Japan? (Particularly if such minor is under the custody of a divorced spouse who cannot be trusted)?
• What are the Japanese inheritance tax rules – A Summary?
• What is the role of a tax accountant in Japan?
• Can an estate planning lawyer in Japan handle Japanese inheritance tax matters?
• Does Japan have a trust system?
• Are US trusts recognized in Japan?
• What are the differences between the US and Japanese approaches to donations and charities?