Chinese teen, 19, wills S$3.8 million estate to childhood friend

A 19-year-old student in Shanghai has drawn widespread attention online after setting up a notarised will leaving his entire personal estate, worth 20 million yuan (S$3.8 million), to his childhood friend rather than his parents.

According to South China Morning Post (SCMP), the teenager, surnamed Li, owns a flat and savings worth millions of yuan, both given to him by his parents following their divorce and remarriage.

Why he chose his friend over his parents

Li said that his parents are both remarried and have not spent much time with him, leaving him feeling distant from them.

He is also an extreme sports enthusiast who regularly puts himself at risk, and said he did not want his parents' new spouses, whom he regards as strangers, to potentially inherit his property if something were to happen to him.

He chose his childhood friend, someone he trusts and grew up with, as his beneficiary instead.

How the will works

Li notarised his will at the China Will Registration Centre's office in Shanghai.

According to office manager Huang Haibo, Li's childhood friend has 60 days to legally accept the will. Failing to do so would be considered a forfeiture of the right to inherit.

Under China's Law of Succession, a person's spouse, children, and parents are the first in line to inherit.

However, the law also allows individuals to bequeath their personal property to people outside this group through a will.

A growing trend among young people

Huang told SCMP that making wills is becoming increasingly common among younger generations in China.

He said: "An increasing number of people born in the 1980s, 90s and after 2000 have set up wills with us. Making wills is no longer a taboo, or just for the elderly."

According to the centre's most recent annual report, over 400,000 wills have been registered with them.