Y.C. Wang’s Children Go to Court over Estate Case

Y.C. Wang’s Children Go to Court over Estate Case

Source: Taipei newspapers      

                                                                           August 14, 2009

Wang Yung-ching died at the age of 91 on October 15, 2008 in Livingston, New Jersey, and left a personal estate of US$ 8 billion in the U.S. He was the founder of Formosa Plastics Corporation and the second richest man in Taiwan. However, after he died, his children have taken legal actions to vie for the vast estate left by their father.

Yesterday, a New Jersey court began hearings over the estate case filed by Winston Wang, the eldest son of Wang Yung-ching.

Wang Yung-ching had put his vast overseas estate in trust but left behind no will when he died in New Jersey. Now, his children, including Winston Wang, Walter Wang, and his daughter Susan Wang, are jockeying for the vast estate.  

Winston Wang filed a lawsuit in a state court in Newark, New Jersey on May 13, requesting that the court appoint him as the legitimate executor of his father’s overseas estate. The lawsuit has drawn public attention and put the family strife under the spotlight as it is the largest estate case in Taiwan.

An attorney who attended yesterday’s court hearing said that the key issue in the case was who Wang Yung-ching’s wife was according to law. The attorney said that, according to U.S. laws, the lawful wife was entitled to inherit half of the estate, with the rest going to his children.  

“If Wang Yung-ching and his second common-law wife Lee Bao-chu had registered their marriage in the U.S., then the court in the New Jersey may rule that Lee Bao-chu was Wang Yung-ching’s lawful wife,” said the attorney.        

In addition to his lawful wife, Wang Yung-ching had two other common-law wives in Taiwan. His lawful wife bore no child. His first common-law wife bore two boys, Winston and Walter, and three girls while the second bore four daughters, including Susan.

According to press reports, Winston was long ago adopted by Y.C. Wang’s lawful wife as her own son.  

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