July 22, 2011
Nomura Research Institute, Ltd.
Nomura Research Institute, Ltd., a leading provider of consulting services and system solutions, today announced the results of a recent survey on estate planning, which found that even though 14.1% of respondents will inherit more than 30 million yen, only 4.2% have prepared a will.
Following the December 2010 implementation of Japan's "FY2011 Tax Reform", which reduces the tax exemption amount to 30 million yen from 50 million yen and raises the inheritance tax rate for larger sums, citizens are looking for advice and tools to manage these finances.
Nearly 93.7% of the survey participants have not yet prepared a will, however, 55.8% of those feel that they need to, indicating there is a strong demand for estate planning support in Japan.
Some of the key findings of the survey include:
"As the new regulation of estate planning affects a larger portion of the population, there will be a greater demand for systems and solutions that can support this," said Shin Kusunoki, Corporate Senior Vice President and Asset Management Systems Division Manager, NRI. "Clients will be looking for advice on estate planning, which provides a great opportunity for financial institutions and service providers to fill that need."
The survey was answered by more than 48,800 Japanese males and females, 40 to 79 years of age.
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