[Hybrid] What You Need To Know About Canada-Japan Estate Planning - Golden Opportunity to Understand Key Concepts!
Date: Wednesday, April 20, 2022
Jun Nagamine, Nagamine & Mishima
Hitomi Sakai, City-Yuwa Partners
Nozomi (Zoe) Smith, Nakano Smith Law Group
Did you know?
Not only Japanese assets, but worldwide assets might also be subject to Japanese inheritance tax. If you inherit Canadian assets while having lived in Japan for more than 10 years during the last 15 years, even with a Table 1 Visa, such as business manager visa, you are obliged to pay Japanese inheritance tax. It is a well-known fact that Japan has the world’s second highest inheritance and gift tax rate at 55%, while there is no inheritance tax in Canada.
Given your residence and citizenship and the locations of your assets and the different legal and tax systems coming into play, the administration of your estate may be much more complicated than you think. It is therefore critical to have a proper estate plan in place if you own cross-border assets. Without taking into account Japanese legal and tax aspects in your planning, your family can be otherwise left with a big headache instead of a legacy.
In this session, you will learn the basics of Japan-Canada estate planning, including:
- Basics of Japanese inheritance tax
- Scope of Japanese inheritance tax
- Governing law issues
- Forced Heirship
- Preparation of Wills
- Canadian Perspectives on Estate Planning
- Case Study ＆Tips on Japan-Canada estate planning and sharing the speakers’ experience
Don’t miss this opportunity to hear and learn from tax and legal experts on the key concepts of Japan-Canada estate planning in order to properly plan ahead, minimize risk, and most importantly, protect your loved ones!
Jun Nagamine is the founding partner of Nagamine & Mishima Consulting, which specializes in international tax matters for over 30 years. The firm’s client base currently consists of more than 90% foreign clients, and Jun handles the international tax matters. Jun has written many books regarding international taxation including inheritance tax on cross border assets. He holds a degree of BA from the University of Tokyo and an MBA from the Wharton School.
Hitomi Sakai is a counsel with City-Yuwa Partners. Admitted to practice law in Japan and New York. She practices in the fields of international estate planning, business succession and general corporate. She has represented various business owners, young entrepreneurs, executives, retirees, and family business corporations. Ranked Band 1 in Private Wealth Law by Chambers High Net Worth, 2018-2021.
Nozomi (Zoe) Smith is a lawyer and the co-founder of Nakano Smith Law Group in Oakville, Ontario. Her practice focuses on estate planning and administration. As one of the few native speakers of Japanese in the Ontario Bar, she has extensive experience in dealing with cross-jurisdictional estate issues arisen in Canada and Japan. She is a member of the Law Society of Ontario and holds law degrees from Chuo University and The University of Toronto Law School.
The zoom link will be sent a day before the event to participants who join virtually.
April 20 (Wed)
- Members -- Free, Non-members -- ¥1,000