A will is one of the most important documents for anyone to draft as it determines who will lay claim to whatever assets or properties the person has when they pass away.
A teenager in China recently stirred online debate after he came up with a will that saw a friend, not his parents, being named the beneficiary to a massive fortune.
Left RM12.6mil to childhood friend
According to South China Morning Post, Li, a 19-year-old from Shanghai, drafted a will stating that his personal wealth of 20 million yuan (approx. RM12.6 million) will be bequeathed to his childhood friend.
Li said his parents had divorced and later found new partners, leaving him with assets that included a flat and savings worth millions of yuan.
Li added that he came to regard his parents as “strangers” as they barely spent time with him, which left him feeling emotionally distant.
SCMP also reported that Li was a huge fan of extreme sports and often took part in high-risk activities.
Knowing that his life was constantly in danger and not wanting either his parents or their spouse to get their hands on his assets, Li wrote a will stating that a childhood friend will be his successor.
Based on China’s Law of Succession, a person’s parents are first in line in the right to inheritance, meaning their spouses also enjoy the same privilege.
However, recent changes to the law now allows a person to leave their personal property to non-statutory individuals.
60 days to accept will
With this, Li notarised his will at the Shanghai office of the China Will Registration Centre (CWRC).
According to CWRC office manager Huang Haibo, Li’s childhood friend has up to 60 days to legally accept the will. If he fails to do so, it would be seen as him forfeiting the right to inherit.
Li’s move to let a friend inherit his assets sparked an online debate, with some questioning the rationale behind it and saying he was “too young” to make such a huge decision.
Others jokingly expressed that they wished they had a friend whom they can entrust their wealth to.
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