TOKYO : Sumitomo Mitsui Trust Bank has launched a new type of trust product that manages the assets of single persons after their deaths and arranges their funeral services.
Property and real estate entrusted by a client to the bank will be distributed according to the client’s will and other factors after his or her death.
Funeral expenses, trust fees and other expenses will be deducted from their deposited assets after death. The percentage of single-person households in Japan’s population is increasing against the backdrop of a declining marriage rate and other demographic factors.
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