December 4, 2012
Second Wife of Chinese Investor Will Receive His Money
A local court in the People's Republic of China held that a decreased man named Lin intended to leave the money he earned from investing to his second wife, Zhang Qian, and not his children. The amount that his three sons and widow fought over was about 374,000 yuan or $60,101 that remained his investment account. The court also gave his widow their home in which they lived when he died.
The man reportedly had made four will over the last decade. He made two wills, one in both 2001 and 2002. Those wills, which he had notarized, gave the money in his investment account and the house to Zhang. In 2007, Lin reportedly wrote a new will that would give all of his property to his three sons. Finally, the four will was made in 2009. In his last will, Lin stated revoked the third will and stated that the first two wills were valid. Under Chinese law, the will a person writes in his or her lifetime gets precedence over the others. According to People's Daily Online, "Zhang agreed to give Lin's [sons his] "Titoni watch, his gold ring and the expensive wooden furniture in their home."
See Second Wife Wins Hubby's Inheritance, People's Daily Online, China Society, Dec. 3, 2012.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
TrackBack URL for this entry:
Listed below are links to weblogs that reference Second Wife of Chinese Investor Will Receive His Money: