Japan Inheritance Tax

Helping navigate tax obligations between generations

Your Inheritance

If you’re living abroad, you are likely to have accumulated assets in various jurisdictions throughout your lifetime. If you pass away overseas, things are likely to get very complicated for your beneficiaries. You might need to think about consolidating your holdings and managing them more effectively now. Planning is particularly crucial for Japan residents, where estate taxes are high compared to other countries.

Estate planning and asset protection, allows you to organize and decide how your assets will be distributed and make sure that it is done in a timely and tax-effective manner.

Our Advice

Meeting with an advisor will give you a better understanding of which types of solutions make the most sense for you and your family using existing schemes or structures, either offshore or onshore depending on your personal needs. Waiting until you have amassed your wealth before looking at appropriate solutions or holding structures for inheritance tax planning could be detrimental.

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Frequently Asked Questions

Do I need a will or a trust?

In many ways a trust acts in the same way as a will, however it is very difficult to successfully contest the wishes expressed in a trust when the creator of the trust passes away. Depending on your circumstances and accounts there are simple trusts which can be set up for you whatever the value of your holdings.

When should I start thinking about estate planning?

People need to start thinking about estate planning when they have dependents that rely on them financially. The more assets and wealth you accumulate, the more important this becomes. If you are a high net worth individual with dependents, this should be an integral part of your overall financial planning strategy.

Can I consolidate my international assets through a company?

Yes you can, although this only makes sense for clients whose assets are valued in excess of a million dollars. These are structures that would be ideal for high net worth individuals. We can advise and design structures for you depending on your personal circumstances.

What can I do about Inheritance Tax (IHT)?

This really depends on where you live, where your assets are based, your nationality and the overall value of your personal holdings. In most countries such as the US, UK and Japan there is a tax free IHT allowance of up to five hundred thousand dollars. As we advise on IHT planning case by case the best thing would be to contact us directly for more info.

Can you help with Inheritance Tax Planning in Japan?

Yes, however you would need to speak with one of our estate planning specialists for more details on this.