[Expat Will in Japan] Any advice?

[hoofishtick]

Hi folks

As the other part of my previous post on [Expat Will in Birth Country] I'd like to ask for any advice on making a will in this country, to cover my assets in Japan: bank account etc

From what I've read so far, a Japanese will is unlikely to have any effect on any assets I have in the UK or vice versa. It seems that the easiest thing to do is to make your wishes as clear as possible in both countries. I hope I've got that right.

With that in mind, can I ask people how easy or difficult it was to make a will here in Japan.

I looked at these 2 articles as a start:

https://www.tokyoweekender.com/2019/05/ ... -in-japan/
in which apparently a Japanese lawyer said: “So long as you have a will made in your home country, I do not see any merit to making your will in Japan.”
That doesn't seem very sensible to me, as long as it'd not going to cost an arm and a leg to do it. Think of all the communication that's going to have to go back and forth in 2 languages.

https://www.fukuoka-now.com/en/leaving-a-will-in-japan/
which advises making a will in both countries and describes the 3 main kinds of wills.
The cheapest of those appears to be the holographic will, commonly known as a handwritten will. To make the will valid under the law, you have to write the contents by hand (except the appendix showing the list of the assets), date, sign and affix a seal. It is not necessarily to be written in Japanese. However, it has to be translated at a family court on being probated.

Any thoughts or opinions on the above?

Thanks

hoofishtick

[RetireJapan]

My understanding of the situation for UK nationals is that Japan defers to 'home country' law but the UK defers to 'country of residence' law, so our estate will be dealt with by Japan.

You only need a will if you don't want the standard division of your estate.

[hoofishtick]

What does "standard division" mean? I don't find such a phrase when searching Google. Can you elaborate please, if possible with a source? Thanks.

[captainspoke]

Standard division--scroll down to see a list of 55 typical family situations, scroll farther and there is a family tree-like graphic for each.

https://souzoku-pro.info/columns/isanbunkatsu/10/

[TokyoBoglehead]

It all depends on how big the esatate is, how complicated it is, and how many assets are abroad vs in Japan.

Standard advice for Japan is:

1. Do not put Japanese assets in a foreign trust. This was repeated many times by many lawyers. I cannot give much detail as to why though.

Will in Japan. From What I understand....

1. Cheap/Easy - Holographic (Problem; Where will you keep it/will it be honoured?)

2. Affordable/Safer - Notary (Problem: No executor )

3. Expensive/Package deal Lawyer (Problem: $)

I think #2 is probably the safest bet for most people, and it can be quite affordable

[hoofishtick]

@captainspoke Thanks!

[hoofishtick]

@TokyoBoglehead Thanks for the reply.

As far as option #2 goes, are there any well-known good value providers of such a service?

Also if there is no executor, how would the will be executed?

Thanks

[TokyoBoglehead]

@TokyoBoglehead Thanks for the reply.
As far as option #2 goes, are there any well-known good value providers of such a service?

It would depend on where you live. It is a pretty common business model. Find a local one, with good reviews.

@TokyoBoglehead Thanks for the reply.

Also if there is no executor, how would the will be executed?

Thanks

Whoever you deemed in your will to be the executer(s)? If you want it professionally done, expect to pay a lot more.

If it is family it is common curtesy to have the estate pay for their expenses and provide a stipend.

[ClearAsMud]

As far as option #2 goes, are there any well-known good value providers of such a service?

Also if there is no executor, how would the will be executed?

There is always going to be an executor, whether or not one is named in a will. A quick rundown:

1. Name the executor in the will. According to the Japanese civil code as revised in 2019, the named executor has the ability to appoint a third-party representative like a scrivener or lawyer to actually administer the estate. A named executor also has the right to refuse to accept that responsibility, in which case see below, but the designation made in the will takes precedence over other considerations, which means that actually designating an executor can sometimes cause its own problems.
2. If an executor is not named, or if the named executor declines to serve, or if there is no will, the heirs can choose an executor from among themselves. This requires petitioning a family court, but the process is cheap and relatively easy to do, if somewhat time-consuming. As above, the executor can then hire a professional to actually wind up the estate. If there are no heirs or if the heirs abandon their claim to the estate, creditors can petition a family court to appoint an executor.
3. There is no legal requirement to pay an executor, and relatives often handle matters at no cost when the estate is small, but the heirs should consider the substantial burden placed upon the executor. Professionals will, of course, charge a fee for their services, which normally depends on the size of the estate.
4. Minors and those who have declared bankruptcy are ineligible to become executors.
5. Inheritance tends to cause or exacerbate family conflicts (a caution rather than a guideline).
6. Take a look at the RetireWiki regarding making a will in Japan. Note especially the new procedure allowed for making a cheap holographic will that is kept on file at the legal-affairs office and does not require probate.

[hoofishtick]

Many thanks for the replies @ClearAsMud and @TokyoBoglehead. I don't know how I missed them until now.