Personal Finance for Residents of Japan
https://retirejapan.com/forum/
The full quote is actually “the blood of the covenant is thicker than the water of the womb”, which has the exact opposite meaning.Wales4rugbyWC19 wrote: ↑Sat Jun 04, 2022 10:08 am Trouble with the in-laws over inheritance, believe me nothing compared to disputes within step families over inheritance. Claws really come out. Blood sometimes is not as thick as water.
That’s my understanding, but only from internet reading. I have wondered whether it makes sense to do as you have done and have real estate in the name of the foreigner, thus avoiding any claim from Japanese relatives on it. But that brings in to play the possibility that said foreigner dies first and the Japanese spouse then may have to deal with the relatives of said foreigner having claim on it, if Japanese law applies. My internet reading has not provided any clarity on that. Some sources suggest the law of the deceased’s country of nationality applies, while others suggest that is only for assets other than real estate, and for property Japanese law would apply.RetireJapan wrote: ↑Sat Jun 04, 2022 12:17 pm My wife and I have separate accounts, and our home is in my name.
My understanding is that if she dies before me, the normal result would be that I will inherit half of her assets, and her 3 children will split the other half. Is that correct?
Yeah, the presence of children writes the parents out of the statutory distribution.northSaver wrote: ↑Sat Jun 04, 2022 7:28 am Fortunately we have children and I think that would help a lot in this situation, both in terms of the money and ongoing family relations.
I think, in order for the love child to have a claim, first the love child must have been acknowledged by the father...captainspoke wrote: ↑Sun Jun 05, 2022 12:39 am Be careful, folks...
If you look thru the 55 scenarios in the link I posted, the husband's love child may also be entitled to a portion.
True in the case of the father's estate, and a will can actually acknowledge the relationship posthumously, throwing another potential complication into the mix (the executor submits the required paperwork). The relationship with an unmarried mother will already be recorded in her koseki, so it appears that an out-of-wedlock child normally has a full statutory claim to the mother's estate (before September 2013, the claim was limited to half that of a legitimate child's for both parents).
I have to completely agree with you, I expect institutions to follow their guidelines. And I suppose without knowing their banking situation or if he gave her control in dealing with all financial matters we don’t know their specific situation. Your spot on when your Japanese is at a good level. However guidelines are just that, guidelines. Although I’m actually surprised she/he didn’t go to the bank before she passed away.RetireJapan wrote: ↑Sat Jun 04, 2022 8:19 amPersonally I expect banks and other institutions to follow their standard rules and procedures without individual employees using their 'experience' to change the rulesBubblegun wrote: ↑Sat Jun 04, 2022 6:12 am This “sending of documents to the Japanese person” and not the “foreigner” in my opinion may come from not just bias but also from that persons experience. Probably
A) assuming the foreigner can’t understand any Japanese.
B) can’t access help without a wife/ husband
C) The person who dealt with issues previously dealt with the Japanese person previously.
It really can be way to jump to calling everything racism but in truth, how many are that fluent in dealing with the paperwork here. ( of course there are) but the vast majority can’t. So basically if you can’t read, write, or speak Japanese, your pretty much disabled. I’ve met people who’ve live in the UK for years who couldn’t even read the alphabet and everything had to be done by a British person. So it’s certainly not imho racist.
I'm not saying it doesn't happen from time to time, but when it does it means I have to go and have a pointed chat with the manager, and that is just tedious for everyone concerned...
According to this site you are correct. The bit about illegitimate children the in-laws is interesting too.RetireJapan wrote: ↑Sat Jun 04, 2022 12:17 pm My wife and I have separate accounts, and our home is in my name.
My understanding is that if she dies before me, the normal result would be that I will inherit half of her assets, and her 3 children will split the other half. Is that correct?