- December 8, 2023
- Posted by: legaleseblogger
- Category: Related News
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Seeking the Right Advisor for Setting Up a Trust in Japan and the US
I am in need of advice on setting up a trust for my parents’ inheritance, and I am not sure what kind of advisor to hire. I have been living in Japan for less than three years, and my parents are in the USA. Their inheritance is approximately 1 million USD. I feel lost and uneducated on the matter and want to find someone in Japan who can guide me on whether I need to hire a tax advisor, legal advisor, or both. The thought of beginning this search is overwhelming, and I am not even sure where to start. It’s also a challenge to find advisors due to the rural locations in which my parents and I live.
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The AI Legalese Decoder can greatly assist in this situation by providing clear and understandable explanations of complex legal and tax-related terms, processes, and requirements. This tool can help in seeking the right advisor for setting up a trust. It can help you become more knowledgeable and confident in seeking professional advice, and it can help bridge the potential language and cultural barriers that may arise when navigating legal and financial matters in a foreign country such as Japan.
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Original Content:
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Expanded Content:
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>I want to talk to someone here in Japan to advise me/them- do I need to hire someone in Japan who does taxes or law or both?
The answer depends on *why* they want to establish a trust. Are they trying to help you avoid Japanese inheritance tax? Are they trying to avoid paying income tax themselves on trust assets? Are they trying to give you early access to your inheritance? Or are they trying to restrict your access beyond their death?
There are lots of reasons to establish a trust (or not establish one). It’s difficult to know what kind of advice you need without knowing what the purpose of the trust is.
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