“I trusted my relatives… ” I almost got into trouble because I didn’t know the law
“○○, long time no see. I’m an uncle, but my deceased grandfather doesn’t have any special assets, only credit card debt and loan debt, so just hand over the documents and I’ll take care of the rest.”
Mr. A, an office worker in his 20s, a newcomer to society, received a call from his uncle last fall. His maternal uncle asked Mr. A to hand over his seal, seal certificate, and power of attorney, saying, “Your maternal grandfather passed away, so you need to arrange related documents.” Mr. A has been living with his father without any contact with his maternal relatives since his mother died when he was in middle school. It has been over 10 years since he last contacted his maternal uncle as well.
When ‘inheritance’, which he had only seen in dramas, became his job, Mr. A was at a loss at first. He gave away the seal certificate on the groundless belief that his relatives would not harm him. While it was not easy for him to adapt to the company, he had a strong desire not to prolong his work. His father also heard the news that his old father-in-law had passed away, but he seemed uninterested in the matter of inheritance.
But, thinking about it again, something was a little strange. In fact, he felt uncomfortable giving various documents to ‘males’ without any review. I also remembered hearing that a seal certificate is necessary for large-scale transactions such as real estate.
Mr. A found a law firm specializing in inheritance through a portal site search, received legal advice, and learned how to check the deceased’s assets. When I checked with Government 24’s ‘One-Stop Safe Inheritance Service’, there was a large amount of real estate and deposits in the name of my maternal grandfather. Only the inheritance of Mr. A and his father was 200 million won.
Mr. A asked his maternal uncle for the share of the inheritance, but his maternal uncle said, “The hospital bills were high, and we were in charge of supporting them,” and agreed to an unreasonably small amount. After failing to reach an agreement, Mr. A filed a lawsuit against his maternal uncle and others for a judgment on the division of inherited property and won. The reason Mr. A and his son were able to win the case was because of the inheritance system by representation. Inheritance by representation is defined as “in case the lineal descendant or sibling (by-designate) who will become the heir dies or becomes disqualified before the commencement of inheritance, the direct descendant (child/grandchild) or spouse of the heir by representation is the heir in place of the deceased or disqualified person. to become.” In simple terms, it means that when a person who is to inherit dies, his/her children or spouse will inherit instead.
In Mr. A’s case, the deceased maternal grandfather’s property belonged to Mr. A’s mother, but as the mother died, Mr. A and Mr. A’s father inherited as children (direct descendants) and husband (spouse), respectively. Mr. A, who did not know at all whether he was an heir and how much the legal share was, was literally ‘open his eyes and almost get his nose cut’ by his trusted relative.
Shin Eun-jung, a lawyer at Tehran Law Firm, said, “It often happens that relatives and relatives who are in a competitive relationship with the inheritance defraud young heirs who are not familiar with the law by saying ‘I will take care of it myself’ and defraud them of property interests.” If you hand over major documents such as a power of attorney, it is not easy to get it back even if you find out later that you have your share of inheritance.”
Differences in understanding of the economic system
also lead to polarization among the youth
When entering society, everyone participates in the economy on an equal footing. Unless they are subject to special social protection, they cannot expect ‘beginner protection’ just because they are young people. As the age group participating in economic life is getting younger, the need to have an early understanding of the market or system is being raised.
Differences in understanding can be a trigger for polarization to begin in the younger generation. For example, those who started paying for housing subscriptions in their teens and twenties have a greater chance of owning a home than those who signed up late before marriage.
Most of the victims of charter fraud, which drove five people to the edge of their lives this year alone, are young people living in a one-room apartment. According to government figures, 61.3% of the victims of this charter scam were in their 20s and 30s. Considering the cost of learning while living a social life, the damage is irreparable. Young people are virtually abandoned from the knowledge gap in law, real estate, and finance. Experts advise that it is essential to expand the basic concept of living economy to prevent unexpected damage.
In the current high school curriculum,
real estate-related content is missing, “At least some of it,
such as rental cars and registered copies,
must be included in the curriculum. ”
Jeon Mo (24), a university student who has been living in Heukseok-dong, Seoul for five years, had a heartbreaking experience while looking for a new house ahead of her graduation. When I saw the recently exploded ‘Jeonsedae column’ and took a copy of the real estate register with anxiety, a loan (loan) of 1.2 billion won was held in front of the house where Mr. Jeon lives.
The house where Mr. Jeon lived did not even include the Jeonse deposit return guarantee (Cheonse guarantee insurance) of the Housing City Guarantee Corporation ( HUG ). Under the current Private Rental Housing Act, registered rental business operators are obliged to purchase jeonse guarantee insurance. However, in 2020, when the law was revised, existing rental operators were given a one-year grace period, and from August 2021, they were obliged to purchase insurance. In September 2020, when Jeon signed the house contract, the rental guarantee insurance was not mandatory for the lessor (landlord). The landlord did not purchase new insurance after that.
According to HUG , the amount of Jeonse deposit return guarantees issued at 722.1 billion won in 2015 surged nearly 77 times to 55.451 trillion won last year. During the same period, the number of households issued with jeonse deposit return guarantees also increased more than 60 times from 3,941 households to 237,797 households.
As of the first half of last year, the amount of jeonse deposit return guarantee issued (37.848 trillion won) and the number of issuing households (163,222 households) have soared again this year in the aftermath of charter scams, already reaching 67% of last year.
Mr. Jeon said, “At the time of the contract, I went to the realtor’s office and looked at the register, but I didn’t even know the difference between Gap-gu and Eul-gu.” I know,” he said. However, when it was revealed that there were many cases of fraud by moving into a house where the mortgage was secured ahead of time with a loan during the ‘Cheonse generation’, Mr. Jeon’s anxiety grew, thinking ‘I am also wrong’.
Mr. Jeon, who was not sure about the rental house, consulted with his family and decided to buy a new house and move when the rental contract period was over. And he soon decided to move into a studio in Magok-dong and signed a real estate lease contract. However, for Mr. Jeon, the key is to get the jeonse money back without any problems on the scheduled date in August. This is because if he does not get back the deposit from the landlord of his original house, he will not be able to pay the balance and the contract to move in to the new house will be null and void.
He says that real estate contracts have always been difficult for him, remaining entirely in the ‘adult domain’. Mr. Jeon said, “Even though I am not an expert, I cannot even dare to sign a real estate contract without my parents’ presence.”
Mr. Jeon said, “I took ‘Politics and Law’ classes in the curriculum, but there was no content related to real estate, and I chose Korean geography and world geography as elective subjects for the CSAT, so I had no time to properly learn about law.” Mr. Jeon said that he had not had any contact with real estate leasing because he had only heard of ‘Constitutional Studies’ as a liberal arts even in his undergraduate course.
In fact, the current curriculum is being criticized for poor education related to real estate. In particular, in the process of revising the curriculum, the fact that ‘Politics and Law’ subjects, such as real estate-related laws and civil lawsuits, were omitted, raised concerns from the educational community. Politics and law, one of the high school social studies subjects, is a newly renamed subject from the previous ‘law and politics’ as the curriculum was revised in 2015.
Sohn Kyung-chan, professor of social education at Chungbuk National University, said, “It is necessary to deal with contents closely related to the minimum knowledge of living laws in the high school curriculum so that the young generation does not face disadvantages in society.” ·The law of reading the certified copy of the register is enough to be included in the curriculum even if only part of it is devoted.”
“I spent more money” What is the year-end tax settlement result?
For Mr. Seo (28), a 4-year-old office worker, year-end tax settlement is still ‘homework for 13 months’. It is said that you can use Hometax’s year-end tax settlement simplification service to obtain proof of income and tax deduction and submit it to the company, but Seo has many other things to worry about. His head spins when he thinks about making a spending plan, especially considering the credit card usage deduction.
Mr. Seo, who pays over 20 million won every year with a credit card, was able to deduct about 350,000 won when he did his year-end tax settlement last year. However, when he heard that his colleague B, who thought he had a similar annual salary but spent less, received a refund of over 500,000 won, Seo was confused.
First of all, Seo did not know that the deduction rate for credit and debit cards was different. If the annual card usage exceeds 25% of annual salary, you can receive income deduction for the excess amount.
When the National Tax Service estimates credit card income deductions, the credit card usage amount is first deducted. Considering this, it is advantageous to use a credit card for up to 25% of annual income and use a debit card with a high income deduction rate from the excess amount. Under the Income Tax Act, the minimum amount of card use that can be subject to income deduction is from 25% of gross wages.
Mr. Seo also learned that he had been using contact lenses since he was a student, but the cost of purchasing lenses had not been looked up in the year-end tax settlement simplification service until recently and was omitted from the year-end tax settlement. On the other hand, Mr. B received a receipt from the lens store every year-end tax settlement and submitted it to the company during the year-end tax settlement period. From 2021, the cost of purchasing glasses and contact lenses has been changed to be automatically entered into the year-end tax settlement simplified service data.
Mr. B is also using ‘housing subscription’ to receive a deduction. According to the Restriction of토토사이트 Special Taxation Act, a household head whose gross wages are less than 70 million won and does not own a house during the taxable year can deduct an amount equivalent to 40% of the amount paid for housing purchase savings (housing subscription) from earned income.
Mr. Seo said, “I thought I had a mathematical sense, but I was weak in terms of tax calculation and economics.” He said, “As it is difficult to suddenly reduce expenses, I need to take care of the deductible portion as much as possible.”
Tax accountant Lee Jang-won said, “Workers in their 20s and 30s are single or do not have many dependents, so they are unlikely to receive other deductions such as education and medical expenses. Since it is based on words, it is already too late if you want to take credit card income deductions in January of the following year when year-end tax settlement begins.”
Tax accountant Lee said, “Since tax knowledge for managing one’s own assets is basic for members of society, it is important to thoroughly learn the basic knowledge of taxation so that you will not experience trial and error at year-end tax settlement.”