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The Estate Tax
The estate tax is a tax on the right of the decedent to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers, which are made by law as equivalent to testamentary disposition. This is not a tax on the properties inherited, but a tax on the…
Read MoreSelling Inherited Property in the Philippines
If you inherited a real estate property in the Philippines, such as a land, and would like to sell it instead of keeping it, there are important things to know to ensure the sale goes smoothly and legally. First, the inherited property cannot be sold right away without settling the estate of the person (who…
Read MoreRECOGNITION OF FOREIGN DIVORCE DECREE IN THE PHILIPPINES
Philippine laws on marital status follow Filipinos wherever they may go. Thus, as a rule, a married Filipino remains married even if a divorce is obtained abroad because divorce is generally not recognized in the Philippines. Luckily there is a limited exception for recognition of a foreign divorce decree which would allow a divorced Filipino…
Read MoreExtrajudicial Settlement of Estate: When Your Loved One Passes Away
Nothing is more difficult than losing a loved one, but we must learn to live with this unavoidable fact of life and move on when it happens. One of the things we have to deal with in moving on is settling the estate of the deceased. The properties left behind by the deceased at the…
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