Decoding Tax Rates: How AI Legalese Decoder Can Simplify Different Tax Rates Based on Blood Relationship
- April 17, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Equal Distribution of Estate to Both Biological and Adopted Daughter
One Japanese daughter is mine by blood, another I’ve raised since she was five but never adopted. When I die, I want to leave equal shares of my estate to them, via a will. I have heard they will be taxed at different rates on their inheritance, but I can’t seem to find any information addressing that specifically. Does Japan really tax inheritance differently based on blood?
In Japan, inheritance tax rates are calculated based on the value of the inheritance received and the relationship between the deceased and the recipient. Biological and adopted children are treated equally when it comes to inheritance tax, so both of your daughters should be subject to the same tax rates.
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Uhm, I don’t know what the difference tax rates are or anything but I’m sure they are determined by your legal relationship, not your blood relationship. Yes the blood relationship will probably equal a legal relationship if all the papers are filed correctly but so would an adopted child I’m sure.
I’m assuming that the mother is the other part in this and that you are married? So I’m not sure how your jyuminhyou or kosekitouhon looks.
But I want you to understand that blood is most likely unrelated and it’s a legal issue that’s in your power to fix.
I appreciate that there might be another parent that is legally her father so to speak, I assume your “blood” – daughter won’t have a legal stake in his inheritence either because legally they are probably unrelated too.
Not really based on blood but on family.
For the tax man, one person is your statutory heir, one other is a random person you’re giving money to. Whether you raised that person or not doesn’t matter, they are not your family on paper.
There is an extra tax levied on inheritance other than close family. I believe an extra 20% is due.
(this is not restricted to Japan, Germany at least does the same: https://n26.com/en-de/blog/german-inheritance-tax)
I’m in a similar situation -my wife has kids from her previous marriage and I have not adopted them so we’re also facing this extra tax.
One way to reduce the impact a bit is to give money to your children before you die -up to 1.1m yen a year can be received before gift tax is due.
There is a fixed pattern by which your wealth is divided among your family members at your death. According to this pattern, legally adopted children and illegitimate children inherit the same percentage as legitimate children.
However, you can make a will to give away about 50% of your wealth at your death to whomever you want. To a stranger, to a charity, anyone. The other 50% must still be divided among your family members according to the established legal pattern.