Best Estate Planning Lawyers in Ormoc City
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List of the best lawyers in Ormoc City, Philippines
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Philippines Estate Planning Legal Questions answered by Lawyers
Browse our 3 legal questions about Estate Planning in Philippines and the lawyer answers, or ask your own questions for free.
- Who has the legal right to own a property: the one with the Tax Dec with the name of the deceased father (still not transferred by other claimants for 20 years) or the one with the copy of Deed of Absolute Sale of the property showing that it was sold by
- Who has the legal right to own a property: the one with the Tax Dec with the name of the deceased father (still not transferred by other claimants for 20 years) or the one with the copy of Deed of Absolute Sale of the property showing that it was sold... Read more →
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Lawyer answer by Recososa Law Firm
Hello: Property ownership questions like this can be emotionally and legally complex—especially when families, old documents, and long periods of inaction are involved. We're here to help you sort this out clearly and lawfully. You mentioned two parties: The one...
Read full answer - Estate settlement dispute
- My grandfather (testator) Died in 1996. There are 8 heirs (siblings) mentioned in his will. The estate tax has not been paid until now. 4 out of 8 sold me their share with a notarized deed of sale and a deed of donation. The other 3 wanted to invalidate/ cancel... Read more →
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Lawyer answer by Nomos Legal Practice
Hello and thank you for contacting SK Solicitors, a full-service immigration law firm based in Lagos, Nigeria. Kindly let us know how we can help you to solve your legal needs and before we can render legal advice service, you...
Read full answer - Unjust & unfair transfer of title to the heirs.
- Here's a refined version of your statement: "The original owners of the estate were our deceased grandparents. Initially, there was a single-parent land title with an extrajudicial agreement among heirs regarding the subdivision of lots. However, the Local Government Unit (LGU) purchased four parcels of land and transferred the title... Read more →
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Lawyer answer by Nomos Legal Practice
Hello and thank you for contacting SK Solicitors, a full service immigration law firm based in Lagos, Nigeria. Best Regards, Kingsley Izimah, Esq.
Read full answer
About Estate Planning Law in Ormoc City, Philippines
Estate Planning in Ormoc City, Philippines involves the legal structuring of your assets and affairs in preparation for the end of life. This includes provisions for the management of your estate during life and its distribution upon death. The most common legal instruments used in this context are the last will and testament, living wills, and the powers of attorney. In the Philippines, Estate Planning is governed by the New Civil Code and the Rules of Court, alongside numerous case laws and tax regulations.
Why You May Need a Lawyer
People often seek legal help in Estate Planning to protect their estate from unnecessary taxes and to avoid any complications that may arise during the transfer of assets. Additionally, they might require a lawyer to resolve disputes among heirs and ensure the proper execution of their last will and testament. Legal advice is also essential in circumstances where the estate includes complex property or commercial investments.
Local Laws Overview
Understanding the local laws and estate taxes in Ormoc City, Philippines is crucial for effective estate planning. The key aspects include a comprehensive understanding of the New Civil Code as well as the tax implications associated with the transfer of property upon death. In particular, the Tax Code stipulates a six percent estate tax, applicable to a resident’s net estate above PHP 200,000.
Frequently Asked Questions
1. What will happen to my estate if I pass away without a will?
If you pass away without a will, the intestacy laws of the Philippines will control the distribution of your assets. This generally favors blood relatives in a specific order.
2. Are wills public records?
Upon probate, wills become part of the public record. Until that time, they are private documents.
3. What is the estate-tax rate in Ormoc City?
The current estate tax rate in the Philippines is 6%.
4. Can I change my will after it's been written?
Yes, you can change your will after it's been written. You can either add a codicil to the original will or you can create a new will that revokes the old one.
5. What age do I need to be to make a will?
You must be at least 18 years old and of sound mind to make a will in the Philippines.
Additional Resources
The Philippine eLibrary and the Supreme Court of the Philippines website are valuable resources that provide extensive information about estate law. The Bureau of Internal Revenue is your go-to source for tax-related questions. Additionally, the Integrated Bar of the Philippines may assist in providing legal advice and counsel.
Next Steps
If you need legal assistance in Estate Planning in Ormoc City, Philippines, the first step is to seek advice from an experienced lawyer. They can guide you through the estate planning process, help draft necessary legal documents, and provide advice on how to best preserve your assets for your heirs.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.