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Ｑ１:On which property is there inheritance tax?
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Ａ１：
Cash, savings, land, house and buildings stock securities, golf club membership,precious metals,claim of accounts receivable and bill receivable,inventory turnover of car and machine. Tangible fixed assets of car and machine, literary property of patent and goodwill, sums payable at death, retirement allowance(retirement benefit and service money)etc.
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Ｑ２：How should be partitioned the estate?
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Ａ２：
①Partitioning proceeds according to civil law regardless of if there is no will or if there is a will.
②In most cases the inheritance division is the one to decide which inheritance transfers to which person, and all heirs'approval is necessary.
③An inheritance division conference book is made, and the name of the property is changed with Legal Affairs Bureaus and the bank, etc.Moreover, when inheritance tax is required, it must be declared and paid within ten months from the day after death.
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Ｑ３：Which property of the deceased can be redeemed?
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Ａ３：
①Bank savings
②Final tax returns from individual income tax
③Declaration card of corporate tax(company employees and stocks)
④Life insurance, damage insurance bond of letter
⑤Letter from bank or brokerage firm
⑥Letter from Credit Company
⑦Letter from government and municipal offices(regarding property taxes etc.)
Please consult us regarding other documents.
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Ｑ４：Are there ways to reduce inheritance tax?
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Ａ４：
Inheritance tax is waived if it is below the legal value of 160 million yen.However,it is necessary to acquire property by the partition of the estate by the due date of the tax return(ten months), and to submit a declaration card of inheritance tax.
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Ｑ５： Can proceeds of life insurance be transferred if there is a large loan debt from the deceased?
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Ａ５：
Proceeds of life insurance can be received only by relinquishing inheritance if you are the addressee. However, there are various rules which do not apply to tax-free proceeds of life insurance. Moreover, relinquishing inheritance is limited to within three months from the day when the period of inheritance began,and we recommend consulting a specialist. |
