Until 2020, civil probate and estate affairs in China have been handed in accordance with the Law of Succession of the People’s Republic of China (enacted in 1985). The new legislation (the Civil Code of the People’s Republic of China), in effect from 1 January 2021, has revamped the rules pertaining to succession of the deceased’s assets into highly organized system.
The new law has more specified guidelines regarding estate administrators (which was not addressed in the 1985 legislation). The 2021 laws address the methods of appointing an administrator, their scope of power and their accountability and right to renumeration.
Author: ONC Lawyers
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Region:
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