The Gaopeng Wealth Management team received a WeChat message from a client at the beginning of 2024:

Wake up early and see good news, perfect 2023! Looking back on this year, I am very grateful, grateful or grateful! Thank you for encountering such a professional team: rigorous and meticulous thinking, strong legal support; very wise coordination and communication with various departments; conscientiously keeping and verifying information. Your entire team maintains a rigorous, serious, and meticulous work attitude. Every time we go back to handle any procedures, there have been no unexpected events, which is inseparable from your thorough preparation in the early stage. In less than a year, we have completed many tasks that others cannot complete for years. We are very grateful for encountering such a rigorous and efficient team, and wish you another brilliant year in 2024! "

The above message originates from the successful case of Gaopeng Wealth Management team representing a foreign client to handle domestic inheritance and transfer overseas.

Undertaking situation

In this case, the deceased is of Chinese nationality, and the inheritors are all of foreign nationality. The first ranked inheritors jointly entrusted the Gaopeng Wealth Management team to handle this project, which is a cross-border inheritance of domestic heritage. In April 2023, the Gaopeng Wealth Management team accepted the client's full authorization to provide legal services for the entire process of cross-border inheritance of inheritance. During this period, the wealth management team collaborated with multiple institutions such as notary offices, filing institutions, major banks, tax departments, and foreign exchange management bureaus to handle multiple matters related to property inheritance and exit. The types of inheritance involved mainly include cash deposits, wealth management, fund products, real estate, insurance, and pensions. The Gaopeng Wealth Management team has greatly shortened the processing time of inheritance and outbound business with professional and efficient legal services, saving customers the time and cost of frequent return to China processing to the greatest extent.

After accepting the client's commission, the team first verified the existence and validity of the will of the deceased. After careful study and communication with the notary office, it was finally confirmed that the will of the deceased in this project is invalid and should be handled in accordance with legal inheritance. Due to the fact that the client resides overseas for many years and it is not easy to travel to and from China, after confirming the form of inheritance, the Gaopeng Wealth Management team acted on behalf of each inheritor to connect with the following service processes: first, verify and confirm the identity of each inheritor, and jointly apply for inheritance rights notarization; Secondly, the collaborative notary office shall investigate and sort out the property to be inherited, and the notary office shall issue an inheritance notarization certificate; Thirdly, classify and dispose of various legacies, including but not limited to assisting the inheritor in opening an account with a domestic bank, distributing cash assets, collaborating with intermediary agencies to sell houses, and handling insurance claims; Fourthly, for different types of heritage, after disposal, apply to the tax department separately for the issuance of tax payment certificates; Fifthly, after completing the aforementioned process, apply to the foreign exchange management department for the exit of funds uniformly. During this period, the team coordinated over 360 service hours and cooperated with the notary office and clients to handle more than 20 domestic notarization certificates and nearly 10 foreign notarization and authentication documents. In less than 11 months, the team successfully completed the entire legal service process for cross-border inheritance of heritage.

Summary

Based on the efficient handling of the above cases, the wealth management team has also summarized the key and difficult points of this type of business, mainly focusing on the trivial and complex matters that need to be handled by the inheritors, resulting in a longer time cycle for estate disposal. For the sake of the valuable time and cost considerations of the client, the team adheres to the principle of minimizing the client's own workload, coordinates and communicates with major institutions in advance, and makes early preparations. Matters that must be handled by the client themselves should be handled in stages as much as possible, and non essential matters should be notarized and entrusted to the wealth management team for handling as much as possible, Minimizing the number of times and time customers personally return to China to handle inheritance affairs. At the same time, due to the linkage with multiple institutions, the requirements of each institution are not consistent, and there are occasional differences in the requirements and standards of the same institution. In addition, there are also differences in the application of domestic and foreign laws. Considering the above factors, the team needs to comprehensively consider the difficulty and focus of the actual implementation of the plan in the practical process, and continuously make adjustments.

The Gaopeng Wealth Management team aims to provide customized wealth management and cross-border inheritance services for high net worth clients. Gaopeng utilizes its rich experience in cross-border inheritance services accumulated over a long period of time, supplemented by smooth communication with notary offices, banks, tax departments, and foreign exchange management bureaus, to provide clients with professional legal service solutions. The perfect conclusion of this project is not only an end, but also a new starting point. The Gaopeng Wealth Management team always pursues excellence and only provides more efficient and professional legal services to customers!