U.S. citizen, PR in Japan, set to receive on the order of 1 million dollars inheritance at some point. My parents want me to figure out the best way to structure their will to lower the tax burden. My understanding is that it is better to get them to name my children as additional heirs than to bequeath the entire one million dollar amount to me. (In other words, have them bequeath one third to me and one third to each of my two children.) Would that cut the tax burden by increasing the number of statutory heirs, or would we end up paying more because of a surcharge on generation skipping? Does Japan consider grandchildren statutory heirs if they are named in the will?
by Rude-Education-23