Key Facts
• From April 1, 2024, inheritance registration is mandatory within 3 years.
• Failure to register inherited land may result in fines up to ¥100,000.
• 20.3% of land in Japan has unknown ownership, covering 410 million hectares.
• The “Inheritance Land National Treasury System” began in April 2023.
• Application fees for the system start at ¥14,000, with additional costs of ¥20,000–¥100,000.
• Digital inheritance issues include locked smartphones and untraceable online accounts.
• Unclaimed digital assets may become dormant and revert to the national treasury.
• Family discussions should start with caregiving topics to ease into inheritance matters.
• Key inheritance topics: real estate, bank accounts, life insurance, debts, and e-money.
• Written records of passwords and accounts can prevent digital inheritance disputes.
Summary
Discussing inheritance and finances during family gatherings is crucial to avoid future disputes. Key topics include real estate, bank accounts, life insurance, debts, and digital assets. Starting April 2024, inheritance registration is mandatory within three years to prevent fines. The “Inheritance Land National Treasury System” offers an option to return unused land to the government, with application fees starting at ¥14,000. Digital inheritance issues, such as locked smartphones and untraceable online accounts, are rising. Families should document passwords and account details to prevent complications. Experts recommend starting conversations with caregiving topics to transition smoothly into inheritance discussions.
