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Estate Planning Private Wealth Management and Succession

[Estate Planning] A living 인터넷 바카라 in the form of a declaratory 인터넷 바카라

1. Overview of the case


The client, who runs a corporation and owns a number of real estate properties, wanted to leave assets to his child in her 40s and minor grandchildren. However, the child was in divorce proceedings with her spouse and was in poor health. The client was concerned that if the child or grandchildren were to inherit the property, the child’s spouse, who is currently in divorce proceedings, would exercise control over the administration of the property to be inherited by the minor grandchildren. Against this background, the client was in need of specific estate planning.

 


2. Our role


We utilized a living 인터넷 바카라 in the form of a declaratory 인터넷 바카라 and a successive beneficiary 인터넷 바카라. Under the trusts, the client’s child will be granted a beneficial interest, and the grandchildren will only receive income from the 인터넷 바카라 until they reach the age of majority, at which point they will inherit the underlying property of the 인터넷 바카라. In this way, the client was able to specifically design his estate plan and address the concerns that would arise if the client's child dies.

 


3. Implications


A living 인터넷 바카라 can be a very beneficial way to overcome many of the limitations of the traditional inheritance system and to ensure that the inheritee’s wishes for the disposition of his or her property are carried out. However, the traditional living 인터넷 바카라, in which a 인터넷 바카라 company is the trustee, created the burden of annual fees for set-up, execution and manage of the 인터넷 바카라, and was often rejected by customers because they had to hand over the ownership of their property to the 인터넷 바카라 company. In addition, the Capital Market Act imposed various regulations on 인터넷 바카라 companies, which limited the freedom to design inheritance plans.


A living 인터넷 바카라 in the form of a declaratory 인터넷 바카라 retains the advantages of a 인터넷 바카라 as substitute for will, but since an inheritee himself/herself becomes the trustee, there is no need to pay fees for management of the 인터넷 바카라. The ownership remains in the inheritee's name, and the 인터넷 바카라 is not subject to the Capital Markets Act, allowing for greater flexibility in 인터넷 바카라 design.


This case is significant because it demonstrates that a living 인터넷 바카라 in the form of a declaratory 인터넷 바카라 can be used to overcome many of the limitations of a traditional living 인터넷 바카라 in the form of a contractual 인터넷 바카라.



□ Attorney in charge : Cho Woong-kyu