[Chatting] Inheritance of some wealth to his wife, donation to the rest of society..."What if your kids are against it?"

□ Broadcast date and time: November 20, 2024 (Wednesday)
□ Host: Attorney Jo In-seop
□ Cast: Attorney Soyeon Kim

* The text below may differ from the actual broadcast content, so please check the broadcast for more accurate information.


□ The writer: When I was ten years old when I was playing around in a car accident, my father died. My mother, who was a homemaker, had to do many things for me and my younger siblings. I also grew up early, so I thought about how to make money from middle and high school. In my twenties, I was clumsy in chasing money, but in my thirties, I started my business focusing on what people prefer. The money gradually began to spread, and after settling down, I was a good son to my mother and took care of my younger siblings. At the same time, I met my beloved wife and raised her well because she had two children. Since I got a little older, I've been on food trips with my wife often, and every time I did, I felt compensated for the hard times I had when I was young. When I tried to enjoy life like that, I had heartburn, so I went to the hospital and was diagnosed with stomach cancer. It's okay if I manage it well, but I'm usually very careful and stressed, so I'm growing anxiety about the future. These days, as soon as I wake up in the morning, I think about death first. There is nothing unfortunate about the children's support so far. However, I am worried about my wife who will live without me. If possible, I would like to give back to society except for the amount of money my wife would spend. Should I ask them to give up inheritance to do that? It is said that there is a system called housing pension, so can my wife receive it if I die first?

◇ Lawyer Cho In-seop (hereinafter referred to as Cho In-seop): < Attorney Cho In-seop's Counseling Office> It was a very sad story. I'm a little better off now, and I can't believe it happened. It reminds me of the word "lifeless".

◆ Lawyer Soyeon Kim (hereinafter referred to as Soyeon Kim):

◇ Cho In-seop: You said you wanted to inherit your property only enough for your wife to live and give the rest back to society, but can you let your child give up the inheritance in advance?

◆ Soyeon Kim: It is often required to write a memorandum of renunciation of inheritance, but a memorandum of renunciation written before the commencement of inheritance has no effect. That means it's actually useless before the heir dies. Abandonment of inheritance is only possible within a certain period of time after the inheritance begins. You have to follow certain procedures and methods, such as reporting to the family court. Therefore, the agreement of renunciation of inheritance before the commencement of inheritance without following such procedures and methods has no effect. There are times when you think it is unfair to write a memorandum of renunciation of inheritance and claim the right to inherit after the commencement of inheritance. However, the precedent does not view such cases as abuse of rights or violation of equity or faith in legal relations. Even if you write a memorandum of renunciation of inheritance, you can claim the right to inherit as much as you want after the inheritance begins.

◇ Cho In-seop: Can your spouse receive a pension through the housing pension scheme?

◆ Soyeon Kim: As we enter an aging society, it seems that you are also using a lot of housing pensions. It is a system in which you leave your house as collateral and receive a pension, and it has the advantage of receiving a pension until the death of your subscriber and spouse. It provides collateral to the Korea Housing Finance Corporation, and there are mortgage and trust methods, so the succession method varies slightly depending on the method. I know that the mortgage method requires the consent of the joint heir, and I know that the trust method is automatically inherited according to the trust contract. I'm relieved that I can guarantee my spouse the rest of his life even if I die. You'd better get counseling for more information.

◇ Cho In-seop: Maybe, that's what you want the most, but is it possible to return your wealth to society after you die?

◆ Soyeon Kim: You want to use your wealth for society. You can make a bequest that you pay (appear) to a public corporation through a will in advance. Inheritance tax and gift tax are not levied on property that is bequeathed or donated to a public corporation under the Inheritance Tax and Gift Tax Act. Or, after the commencement of inheritance, all heirs agree and contribute to a public interest corporation.

◇ Cho In-seop: There are many ways to donate a legacy, right?

◆ Soyeon Kim: Nowadays, there are various types of legacy donations, such as designating the beneficiary of the insurance as an organization that wants to donate and changing the beneficiary who is subscribed or subscribed, and designating the beneficiary of the asset as a public interest corporation after death by signing an asset trust contract with a financial company as a will trust. You can also donate some of your condolence money or funeral expenses. If you ask for counseling from a public interest corporation that you want to donate, you often provide legal advice, so please take a look.

◇ Jo In-seop: Now, to summarize what we've done so far... The memorandum of renunciation of inheritance prepared before the commencement of inheritance has no effect, and the renunciation of inheritance must be reported to the family court after the commencement of inheritance. Through the housing pension system, spouses can receive pensions, and the trust method is automatically inherited so that they can receive pensions even if the subscriber dies. In the event of death, property can be returned to society, and there are ways to bequeathed to a public corporation as a will or to contribute to the agreement of all heirs. So far, I've been with the Soyeon Kim lawyer.

◆ Soyeon Kim :

◇ Cho In-seop: You can listen to <Attorney Cho In-seop's Counseling Office> again on YouTube and the website. If you have any questions or suggestions, please leave a message on the consultation bulletin board on the website.