The article discusses the One Person Corporation (OPC) in the Philippines, highlighting its benefits such as limited liability protection, simplified management, and estate planning advantages for real estate consolidation. It also addresses potential drawbacks like access to capital and personal liability risks, while emphasizing the importance of strategic succession planning and professional guidance.
Category Archives: Settlement of Estate
From Forebears to Heirs: Bequeathing Property in the Philippines
This article serves as a guide for Filipino-Americans and other expatriates regarding inheritance, estate taxes, and property transfers in the Philippines. It outlines the legal processes for transferring estates with or without wills, highlights the need for estate tax payments, and emphasizes the importance of planning and seeking legal advice to avoid disputes.
Step-by-Step Guide to Selling Real Estate Owned by a “Dead” Corporation
“We should all be obliged to appear before a board every 5 years and justify our existence… on the pain of liquidation.” – George Bernard Shaw, Irish Playwright and Political Activist (Part 2 of 4) By Realttorney® In Part 1 of this series, we discussed how corporations in the Philippines may be dissolved and howContinueContinue reading “Step-by-Step Guide to Selling Real Estate Owned by a “Dead” Corporation”
How to Sell the Property of a Dead Relative
The article emphasizes the inevitability of death and the challenges of settling a deceased person’s estate, particularly in the Philippines. It stresses the complexity and importance of proper estate settlement. It advises on the crucial steps and legal considerations for heirs, along with the significance of availing the Estate Tax Amnesty.
Unlocking the Power of Trusts: Why Filipinos Should Consider Them in Estate Planning
Trusts can be a powerful tool for estate planning, providing greater control, flexibility, and tax advantages compared to traditional estate planning methods.
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