▲ Attorney Byung-hwa Lee, LIN LLC

In many dramas, family members draw swords over large inheritances. But in reality, what happens is often more intense than the dramas. Siblings who’ve shared a lifetime together may turn into enemies more hostile than strangers before their parents’ inheritance, and estates may end up divided in ways far removed from the deceased’s wishes.
Such inheritance disputes mostly stems from misunderstanding or insufficient information about “who gets how much,” and above all, from greed for the estate overshadowing respect for the deceased. To prevent such situations and fairly distribute the deceased’s assets, the Civil Act provides clear principles. Simply understanding these legal principles can significantly reduce unnecessary misunderstandings and conflicts.
 

If there is no heir up to the 4th order, the estate reverts to the state.
 

Once the heirs are determined according to the order of succession, the next step is to determine the portion of the estate to be divided among the heirs. This is known as the inheritance share. The Civil Act prioritizes the deceased's intent; if a will exists, the inheritance share is determined according thereto. However, the law secures a legitime, guaranteeing the minimum rights of heirs even if a will exists (1/2 of the statutory inheritance share for children and spouses, and 1/3 for parents). If no will exists, inheritance is carried out according to the statutory inheritance share determined by law, as follows:
 
In principle, all heirs of the same rank divide the estate in equal proportions. For example, if the decedent has three children, the foundational principle is that each child shall inherit one-third (1/3) of the estate.
 
When the spouse inherits together with children or lineal ascendants, the spouse receives a 50% premium over the portion of the other heirs. That is, if the inheritance share of one child is set at 1, the spouse has an inheritance share of 1.5. For example, if the heirs are the spouse and two children, the total shares amount to 1.5 + 1 + 1 = 3.5, with the spouse receiving 1.5/3.5 and each child receiving 1/3.5 of the estate.
 

Inheritance isn’t just about dividing assets—it’s often a painful test of family relationships, and in other cases, it becomes a meaningful process of reflecting on the decedent’s life and carrying on their wishes. The statutory order and portions laid out in today’s column are the most basic starting point for solving inheritance issues. By preparing and making provision early, one can avoid complex inheritance disputes, honor the final wishes of the deceased, and preserve peace among family members. This knowledge is essential for wisely managing assets and planning a 'new life' amidst the grief of being left behind.
 
 
For further details, please refer to the original article below.
 
Today Newspaper
Original article:
https://www.ntoday.co.kr/news/articleView.html?idxno=117354