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United States Estate Planning Legal Questions answered by Lawyers
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- My husband passed away five years ago. We have a property in th Philippines and I would like to transfer everything to my child. We are now residing in California, as U.S. citizens and my late husband a Filipino citizen.c
- Hello:We are sorry to hear about the passing of your husband, and we extend our deepest condolences.Regarding your concern, since your husband was a Filipino citizen and you are now both U.S. citizens residing in California, the property transfer to your child in the Philippines can be lawfully facilitated under Philippine succession laws.Here are some important legal points and possible remedies:1. Extrajudicial Settlement of Estate (if there is no will)If your husband died intestate (without a will), and there are no other compulsory heirs aside from your child, you may execute an Extrajudicial Settlement of Estate with Waiver of Rights in favor of your child. This must be:Signed by you as the surviving spouse,Notarized and registered with the Registry of Deeds,Accompanied by a notarized Affidavit of Self-Adjudication or Waiver, if applicable.If the property is titled in your husband's name, the title must be transferred first to the estate, and then to your child.2. Judicial Settlement (if there is a dispute or complications)If:There are other legal heirs,There is no agreement on the partition,Or if a will exists that needs probate,Then a petition for judicial settlement must be filed before the Philippine court having jurisdiction over the property.3. Tax Clearance & Title TransferTo legally transfer the title, the following must also be secured:BIR Certificate Authorizing Registration (CAR),Estate tax clearance,Updated real property tax payments,Transfer of title with the Registry of Deeds.We recommend an initial consultation so we can properly review your husband’s death certificate, property documents, marriage certificate, and your child’s proof of identity. This way, we can assist you in completing all required steps without requiring you to travel to the Philippines.You may directly schedule and automatically get a Google Meet link using the link below:👉 https://calendar.app.google/MuALV3nLqedy9FCx6Our Contact Information:📧 Email: recososalawfirm@gmail.com📞 Phone/Viber/WhatsApp: 09175046510📍 Office: 5th Floor, Park Centrale Building, IT Park, Apas, Cebu City, 6000We look forward to helping you secure your child’s rightful inheritance.Best,Atty. Jofre RecososaOwner, Recososa Law Firm
- How to protect property from squatters law
- After completing probate to establish yourself as the legal heir, you can transfer the property title to your name and then grant them permission to reside there through a formal agreement.It is worthy to note that you can do it through special attorney.
About Estate Planning Law in Riverside, United States:
Estate planning in Riverside, United States involves creating a plan for the distribution of assets and properties after an individual passes away. This plan typically includes wills, trusts, powers of attorney, and other legal documents to ensure that a person's wishes are carried out properly. Estate planning can help avoid disputes among family members and minimize tax implications.
Why You May Need a Lawyer:
There are several situations where you may need a lawyer for estate planning in Riverside, United States. Some common reasons include drafting a will, setting up a trust, appointing guardians for minor children, minimizing estate taxes, and ensuring that your assets are distributed according to your wishes.
Local Laws Overview:
In Riverside, California, estate planning laws follow state guidelines but may have some local variations. It is crucial to understand the rules regarding probate, estate taxes, wills, trusts, and other aspects of estate planning. Consulting with a local attorney who specializes in estate planning can help ensure that your plan is in compliance with Riverside laws.
Frequently Asked Questions:
1. What is the difference between a will and a trust?
A will is a legal document that outlines how your assets will be distributed after your death, while a trust is a separate legal entity that can hold assets for the benefit of beneficiaries during your lifetime and after.
2. Do I need an estate plan if I don't have many assets?
Yes, everyone should have an estate plan regardless of the size of their assets. Estate planning can help ensure that your wishes are carried out and can make the process of distributing your assets more straightforward for your loved ones.
3. How often should I update my estate plan?
It is recommended to review your estate plan every three to five years or after significant life events such as marriage, divorce, birth of a child, or a change in financial situation.
4. What is probate and how can I avoid it?
Probate is the legal process of distributing a person's assets after their death. You can avoid probate by creating a trust, naming beneficiaries on your accounts, and ensuring that your assets are titled properly.
5. Can I create my own estate plan without a lawyer?
While it is possible to create a basic estate plan on your own, it is highly recommended to consult with a lawyer who specializes in estate planning to ensure that your plan is legally valid and comprehensive.
6. What happens if I die without an estate plan?
If you die without an estate plan, your assets will be distributed according to state laws, which may not align with your wishes. This can lead to disputes among family members and unnecessary taxes and fees.
7. How can estate planning help minimize taxes?
Estate planning strategies such as creating trusts, making gifts, and utilizing tax exemptions can help minimize estate taxes and ensure that more of your assets are passed on to your beneficiaries.
8. Can estate planning help protect my assets from creditors?
Yes, certain estate planning tools such as trusts can help protect your assets from creditors and ensure that your beneficiaries receive their intended inheritance.
9. What is a power of attorney and why is it important for estate planning?
A power of attorney is a legal document that allows someone to make financial or medical decisions on your behalf if you become incapacitated. It is crucial for estate planning to ensure that someone you trust can manage your affairs if you are unable to do so.
10. How can I choose the right estate planning lawyer?
When choosing an estate planning lawyer in Riverside, United States, it is essential to look for someone who specializes in estate planning, has experience with similar cases, and communicates effectively. You should also consider their fees and reviews from past clients.
Additional Resources:
For more information on estate planning in Riverside, United States, you can contact the Riverside County Bar Association or visit the California Courts website for legal resources and forms related to estate planning.
Next Steps:
If you need legal assistance with estate planning in Riverside, United States, it is recommended to schedule a consultation with a local attorney who specializes in estate planning. They can assess your individual needs, provide personalized advice, and help you create a comprehensive estate plan that protects your assets and ensures your wishes are carried out. Remember that estate planning is an essential part of financial planning and can provide peace of mind for you and your loved ones.
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.