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.
Tag Archives: last will and testament
Understanding Joint Wills and the Alternatives for Couples in the Philippines
While joint wills are prohibited in the Philippines, couples have alternative options to effectively execute their last will and testament. Separate wills, mutual wills, and trusts are recognized under Philippine law and can provide couples with the flexibility to express their individual wishes and preferences for the distribution of their assets after their deaths.
Cultivating Your Legacy: Understanding Probate and the Role of Wills in Estate Planning
Executing a will may be a part of the estate planning process. But it is likewise important to consider ways to avoid the probate process, such as revocable living trusts, gifting, and beneficiary designations.
What is an Estate Planning Attorney?
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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