In South Korea, inheritance laws ensure that certain heirs, such as children and spouses, have a legally protected right to a portion of the deceased’s estate, even if a will exists. This legal provision, known as the reserved portion (유류분, yuryubun), prevents the total disinheritance of immediate family members.
What Is the Reserved Portion?
The reserved portion is a legal mechanism that allows eligible heirs to claim a part of the deceased’s estate, even if they are excluded from the will. Under South Korean Civil Law, the reserved portion is half of the legal inheritance share that a direct heir would have received if no will existed.
Who Can Claim the Reserved Portion?
The following individuals are entitled to claim the reserved portion:
- Children (including adopted children) – 1/2 of their legal share
- Spouse – 1/2 of their legal share
- Parents (if there are no children) – 1/3 of their legal share
- Siblings (only if there are no direct descendants or parents) – 1/3 of their legal share
Example of Reserved Portion Calculation
Let’s assume a deceased parent has three children and leaves a will granting all assets to one child. If the estate is worth ₩600 million (approximately $450,000 USD), the legal inheritance share for each child would have been ₩200 million if no will existed. Since children are entitled to 1/2 of their legal share, the two excluded children can each claim ₩100 million as their reserved portion.
How to File a Reserved Portion Claim
If an heir is unfairly excluded from inheritance, they can file a reserved portion claim (유류분 반환청구소송, yuryubun banhwan cheonggu sosong). Here’s how the process works:
- Gather evidence – Obtain a copy of the will, property records, and financial statements.
- Consult a lawyer – Seek legal advice to assess the case and file the lawsuit.
- Negotiate with the inheritor – Often, the dispute can be resolved through settlement.
- File a lawsuit if necessary – If no agreement is reached, a formal lawsuit must be filed within one year from the date the heir became aware of the will and inheritance.
Important Considerations
- The claim must be filed within one year from when the heir learns about the will, or within ten years from the deceased’s passing.
- Even if the inheritor has already spent or transferred the assets, the claimant can still demand monetary compensation.
- The claim only applies to legal heirs, meaning non-family members or estranged relatives do not have reserved portion rights.
Conclusion
South Korean inheritance laws protect immediate family members from being completely disinherited. If you or someone you know has been unfairly excluded from an inheritance, a reserved portion claim can help secure your rightful share. Since legal disputes can be complex, seeking professional legal assistance is highly recommended to navigate the process smoothly.
If you have any questions regarding inheritance laws in South Korea, feel free to leave a comment or consult a legal expert specializing in Korean civil law.