China Estate Plan I: How to deal with your China assets generally

I have observed one interesting thing in my legal practice in family law area. While Chinese people within China are not much interested in making their estate plan, those overseas Chinese are however more keen to prepare for their late years of life and post-demise affairs.

With so many Chinese migrating to foreign countries across the globe, many of them don’t…

Legal Implications on the choice of trustees for properties in China

It is no longer anything fresh for a foreigner to have assets or properties in China. The foreigner can  be either real foreign individual without China root or overseas Chinese or naturalized Chinese. So when those people set up trusts in their residing countries (outside of China) and wish to place their China properties (either real properties or shares)…

Inheritance of corporate shares in a China company (III)

This is the third post regarding inheritance of corporate shares in a China company. Again it is about a special situation that may become more and more in reality with more and more Chinese riches migrating to foreign countries.

I. Facts of the Case

In 2002, a Chinese husband set up a trading company with a third party, and business went well. In 2006, the husband…

Inheritance of estates in China: you may have to resort to courts

If you are looking for legal information regarding inheritance of estates in China, the blog is for you. You may have read a few posts (how foreigners inherit estates in China, tax issues of inheriting real estate in China, multiple heirs inherit one piece of estate property in China, make a will disposing of properties in China) already and you know that the basic…

China inheritance tax not to come any time soon

At the end of last month, in response to an inquiry by a member from National Committee of Chinese People’s Political Consultative Conferrence, China State Administration of Taxes published on its website its reply. It said:

(1) China has not levied inheritance taxes so far, and has never published any regulation on this or even any draft regulation on inheritance…

A New Understanding of Trust Laws-Close the Gap between Civil and Common Law Systems

You can download the PDF version of this post HERE.

Trusts have been hot in China recent years esp in the financial sector of China economy. As a business and family lawyer in China, I find it intriguing how the trust mechanisms can help with respect to estate planning for wealthy Chinese and business planning as well, which has prompted to further explore the world…

Notarize your will to avoid trouble for your heirs/beneficiaries thereunder

Every year I deal with quite a few inheritance cases (litigious or non-litigious) involving foreigners inheriting estate (properties, shares and bank deposits) in China.

Very often, there is a written will produced by one heir to support his or her claim over the estate. The problem is that these wills are not properly notarized, leaving a great deal of uncertainty…