Estate and will involve great deal amount of preparation and planning to avoid sudden, unexpected and overwhelming tax obligations. The allocation of asset and wealth across country borders for business and private purposes however thwarts the successful transition of the inheritance. The even challenging condition is that there is almost always time and geographic constraints where unanimity is hard to achieve.
How CYW support successful transition ?
Generally, estate planning involves allocation of assets in pursuit of optimum tax obligations or secure and private transfer of assets. It is advised to pay attention to local tax regulatory framework, especially in the area of real estate which is often the underlying assets to generate income and capital gains.
Will and trust are common vehicles to transfer inheritance. But sometimes they cost a great deal of efforts to form and cost significantly more to remedy.
Dictated will is one of the wills commonly seen in Taiwan. The principle is that the testator introduces witnesses to draft a valid will. The will is then read, approved, and signed. It sounds simple. But countless lawsuits have been filed against written testamentary wishes that are deemed carefully designed in the first place. Having law experts join the will process gives the wishes solid layer of protection, and save the efforts that otherwise spent in dispute settlement or courtrooms.
CYW Law Firm estimate your tax obligations and impacts and support to arrange the transition of the assets with the least turbulence and most efficiency.