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Private Client law in Taiwan focuses on the personal legal needs and affairs of individuals and families. This area of law covers a range of topics including wills, trusts, tax planning, wealth management, succession, family business succession, matrimonial property, and estate administration. Taiwanese Private Client law aims to help individuals protect and manage their assets, plan their estates, and ensure that their personal wishes are legally respected both during their lifetimes and after death. The legal framework is rooted in the Civil Code, the Trust Act, the Inheritance and Gift Tax Act, and other relevant legislation.
Engaging a Private Client lawyer can provide invaluable peace of mind. Common situations where legal help is necessary include drafting a legally binding will, setting up family trusts, distributing an estate, handling complex inheritance disputes, planning for tax efficiency, protecting assets from claims or creditors, and managing cross-border family or wealth matters. A lawyer can also assist with family law issues such as divorce, adoption, and guardianship. In cases involving international elements or high-value assets, expert advice is crucial to ensure compliance with relevant laws and to safeguard your interests.
Private Client matters in Taiwan are governed primarily by the Civil Code and other related laws. Key local laws and regulations include:
These local laws are complex and subject to regular updates, making expert legal guidance important for effective management of personal affairs.
If you die without a will, your estate will be distributed according to the rules of intestate succession under the Civil Code. Statutory heirs such as your spouse, children, parents, or siblings will inherit your assets in defined shares.
Taiwan law protects certain heirs by granting them reserved shares of your estate. While you can make specific bequests in your will, you cannot exclude statutory heirs such as your children or spouse from their legally entitled portions.
Yes, the Inheritance and Gift Tax Act imposes taxes on inherited assets. However, there are exemptions and deductions available. Effective estate planning can help minimize potential tax liabilities.
In general, foreigners can inherit property in Taiwan, but the rules may vary depending on the nationality and other circumstances. Some restrictions may apply to specific types of property or land.
Under the Trust Act, you can establish a trust by entering into an agreement with a trustee. Trusts can be used to manage and protect assets, ensure privacy, and facilitate succession planning.
An executor, appointed in your will, is responsible for administering your estate according to your wishes, paying debts and taxes, and distributing assets to beneficiaries.
Yes, you can amend or revoke your will at any time as long as you have legal capacity. Amendments must comply with legal requirements to be valid.
Pre-nuptial agreements are not common but are generally permissible if they comply with the requirements of the Civil Code. They can affect property division upon divorce and succession rights.
Cross-border estate planning often requires coordination between Taiwanese law and the laws of other jurisdictions. You should seek legal advice to address inheritance, tax, and compliance issues for assets held abroad.
Heir disputes are often resolved through negotiation, mediation, or litigation. Legal counsel can help represent your interests and work towards an amicable or judicial resolution.
Several resources and organizations can assist with Private Client matters in Taiwan, including:
If you need legal assistance with Private Client matters:
Seeking professional advice early can prevent costly mistakes and ensure your personal, family, and financial interests are protected in accordance with Taiwanese law.
