Inheritance

Navigating Inheritance: New Jersey Attorney Christine Matus Unpacks Children’s Rights When Parents Die Without a Will

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TOMS RIVER, N.J. — When a parent dies without a will, the consequences for surviving children can be significant, creating uncertainty about how the deceased’s estate will be managed. In the absence of a will, New Jersey’s intestate succession laws dictate the distribution of assets, a process shaped by the family structure and current relationships of the deceased, according to Christine Matus, a New Jersey probate lawyer. Matus notes that intestate succession laws prioritize family members, but the distribution can vary widely based on factors such as whether the deceased had a spouse or children … Read more

South Korea Plans Major Tax Reform: Estate Tax System to Be Replaced with Inheritance Tax by 2028

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Sejong, South Korea – In a significant move to align its tax laws with more commonly adopted international standards, the South Korean government announced plans on Wednesday to overhaul its longstanding estate tax system in favor of an inheritance tax by the year 2028. This revision aims to reduce the financial burden on heirs, according to officials from the Ministry of Economy and Finance. The current estate tax in South Korea is applied to the net value of all assets left by a deceased person. Compared to this, the inheritance tax, as seen in most … Read more