Claim for reserve of inheritance
Claim for reserve of inheritance
In Korea, a distinctive legal mechanism referred to as the "legal reserve of inheritance" exists. Under this system, if a testator bestows gifts upon a third party or any inheritor, other beneficiaries possessing a specific "reserve" (which is determined through a highly intricate calculation) hold the right to initiate a claim to recoup the insufficiency in their portion of the estate. The legal recourse to make such a claim must be pursued within one year from the date the claimant became aware of the decedent's passing or within ten years from the date of the decedent's death.