China is the world’s most populous nation with the second-largest economy, but almost no one has a will to pass on their estate. Only 1% of Chinese seniors have created an inheritance plan. The reason is cultural—the subject of death is taboo, and writing a will is thought to put a curse on the testator. Now thirty years after communist China allowed individuals to accumulate wealth, that first generation to benefit is starting to die, creating inheritance disputes that are clogging up the court system. To remedy this problem, the government is requesting that local authorities establish free legal centers for seniors.
See Hannah Gardner, Chinese Don’t Have Wills – and Now It’s a Big Problem, USA Today, January 2, 2017.
