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Estate planning is a multi-disciplinary endeavor for designing a program for the effective management, enjoyment, and disposition of property – personal and real – of the planner at the least possible tax cost and avoidance of probate.
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An estate planning attorney is among several professionals (tax advisors, financial planners, and life insurance agents, among others) that assist individuals to create estate plans based on their unique situations and concerns.
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A common estate planning tool in the 1990s, real properties registered in the name of Family Holding Corporations are typically considered ordinary assets by the BIR. But, if the deal can be structured where the buyer will purchase the shares of the single-asset family corporation then the payment of VAT can be dispensed with altogether.
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Emancipation Patent is a proof of ownership which can be the subject of a contract of sale in the exercise of one’s right of ownership without violating the prohibitions embodied in Section 27 of R.A. No. 6657 relative to sale or disposition of awarded lands for a period of ten (10) years from their award…
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To make things absolutely clear for the unsuspecting couples, there is no such thing as a postnuptial agreement in the Philippines. If the couples married without a prenuptial agreement then, depending on the date of their marriage, their property regime can be conjugal partnership of gains or absolute community of property.
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There is no provision in Rep. Act No. 9904 and IRR that legally permits or allows a homeowner-member to stop and withhold payment of monthly dues in response to the failings of the HOA Officers and their agents or representatives.
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An alien can own land in the Philippines through a testamentary disposition from a Filipino spouse, whose marriage is valid under Philippine laws.
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“By the taxes he pays, a citizen has every right to demand for a good and honest government.” – Franklin D. Roosevelt By Realttorney Portions of the contents of this article were first published 4 days before its 10th year anniversary – January 12, 2012. It is updated to share the same message to allContinue…
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“A person’s enjoyment of ownership may be restricted and limited if to do so the welfare of the community is promoted and attained.” – Mr. Justice Gutierrez, Jr., Bel Air Village Association, Inc. V. Dionisio, 174 SCRA 589 By Realttorney After buying a house and lot inside a subdivision, can the Homeowners’ Association (HOA) mandateContinue…
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“Plan carefully and you will have plenty; if you act too quickly, you will never have enough.” – Proverbs 21:5, Good News Bible [Today’s English Version] By Ernesto C. Perez II You would think that having a creative and distinguished business name as well as an appropriate business vehicle chosen will bring us one stepContinue…
Solutions to Problem Ownerships
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