Jakarta, CNBC Indonesia – A man from China, Wang Sicong, suddenly went viral after he reportedly rejected an inheritance of IDR 1,400 trillion from his parents. He also said that he would be better off earning his own money rather than relying on inheritance.
After investigation, Wang Sicong is the son of a Bamboo Curtain Country conglomerate named Wang Jianlin. Forbes itself estimates that Wang Jianlin's wealth is translucent US$6.4 billion or the equivalent of approximately Rp. 103 trillion.
In 2016, Wang Sicong decided not to continue his father's entire business empire in the form of shopping centers, hotels, amusement parks, sports clubs. There is no clear reason why Wang Sicong rejected it, it's just that such a decision has become “the norm” in China.
The South China Morning Post (SCMP) reported that Wang Jianlin actually supported his son's decision to start his own business, Prometheus Capital, an investment company that houses Banana Culture, the e-sports team and the Panda TV streaming channel. As a result, Wang Sicong handed over the management of Dalian Wanda Group to professionals.
From Wang Sicong's case, you can learn financial lessons about refusing to inherit. Following is the discussion.
Refuse inheritance
If someone receives an inheritance from the heir, he not only receives the assets, but also assumes the heir's debts.
Article 1045 of the Civil Code states that no one is obliged to accept an inheritance that falls into their hands.
Rejection of inheritance is regulated in Article 1057 of the Civil Code, it is stated that The person who refuses must expressly refuse by providing a statement made at the clerk's office of the District Court in whose jurisdiction the inheritance is open.
From this case, it is clear that if you don't want to inherit the heir's debts, you can refuse it. However, the consequence is that you are also not entitled to his inheritance.
[Gambas:Video CNBC]
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