Safe Succession of Family Real Estate... Launch of 'KB Gajok Budongsan Jikim Trust'

Protection to Prevent Children from Arbitrarily Disposing of Real Estate through Guardian Designation

[Asia Economy Reporter Minwoo Lee] KB Kookmin Bank is launching a family real estate succession trust product.

KB Kookmin Bank announced on the 18th that it has launched the 'KB Family Real Estate Guardian Trust.'

This product involves entering into a trust contract with the bank to safely manage real estate. If the contract is to be terminated for the purpose of disposing of the real estate, prior consent from a designated guardian is required, thereby protecting the real estate from being disposed of arbitrarily. It is effective for those who want to gift real estate but are concerned about changes of mind by their children or need protection for the property due to diminished decision-making capacity.

Additionally, customers using the 'KB Family Real Estate Guardian Trust' can reduce holding taxes such as comprehensive real estate tax through gifting the held real estate, or lessen the tax burden on family assets through prior gifting. Furthermore, during consultation, expert groups provide comprehensive inheritance and gifting consulting, offering customized lifelong management planning services including the relevant real estate.

A KB Kookmin Bank official stated, "The KB Family Real Estate Guardian Trust was prepared to present a solution for the wise 'transfer of wealth' to the next generation, a pressing issue in an aging society," adding, "It will be an essential trust solution for both parents worried about their children and children worried about their parents."

This content was produced with the assistance of AI translation services.