tag:blogger.com,1999:blog-6103696878033438648.post3537754003782048028..comments2024-03-27T00:58:52.784-07:00Comments on Pinas for Good: Setting Up a WILL: If I Die Tomorrow, Where Will My Hard-Earned Assets Go?Maria Abellanosahttp://www.blogger.com/profile/17104026512253095345noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6103696878033438648.post-48838484953498686432014-11-06T16:50:35.160-08:002014-11-06T16:50:35.160-08:00Jill, this is a super useful tip. I've always ...Jill, this is a super useful tip. I've always been praning and made a will before. But good to know that it is better to have it entirely handwritten so that it need not be witnessed. <br /><br />Did you make a post on this on your blog? Didihttp://dfordelicious.comnoreply@blogger.comtag:blogger.com,1999:blog-6103696878033438648.post-80394581469505400672014-10-29T17:38:18.335-07:002014-10-29T17:38:18.335-07:00Thanks a lot Ate Jill, I'll keep all you said ...Thanks a lot Ate Jill, I'll keep all you said in mind. The way you write it, parang ang daming gagawin and super intimidating pero I know once I'll set my will "the Philippine way" it'll be okay na. Mine now is DYI approach lang but it did gave me a peace of mind knowing that when I die anytime, my will na ako. I actually told my family about the existence of the will as well as my aunt.<br /><br />Thanks a lot!!!Maria Abellanosahttps://www.blogger.com/profile/17104026512253095345noreply@blogger.comtag:blogger.com,1999:blog-6103696878033438648.post-26403642570852472242014-10-28T22:55:26.559-07:002014-10-28T22:55:26.559-07:00Also, to save up on probate costs (which will invo...Also, to save up on probate costs (which will involve hiring a lawyer and filing a probate proceeding), you may want to encourage your mom and siblings to execute an "Extrajudicial Settlement of Estate" since you only need to have it notarized and published once a week for three weeks in a newspaper.<br /><br />You can still dispose of your assets the way you want to in the ESE, only this time, your family will be the ones signing it (although you can also sign your conformity) so that they already indicate their agreement to the partition. This isn't a guarantee that there will be no squabble when you die, but at least you have already done what you can.Jillsabshttps://www.blogger.com/profile/14049665679120861653noreply@blogger.comtag:blogger.com,1999:blog-6103696878033438648.post-58835349244511861842014-10-28T22:48:45.098-07:002014-10-28T22:48:45.098-07:00Siyempre I have to comment:p
Based on the Civil C...Siyempre I have to comment:p<br /><br />Based on the Civil Code, your mother is your only compulsory heir, so she is entitled to 1/2 of your estate and the remaining half is considered the free portion that you can distribute to whomever you want (Art. 889 -890). Your brothers, nephews and nieces are not considered as your compulsory heirs, so they technically are not entitled to anything, but you can give them something from your free portion. Here's a nice table to guide you: http://famli.blogspot.com/2011/07/legitimes-and-intestate-shares.html<br /><br />To calculate what your mom is entitled to as your compulsory heir, simply add up all of your assets and divide it into two, that's what is due her and the rest is already the free portion.<br /><br />As for the format of your will, since you are a Filipino living abroad, you care free to use any form valid where you are and this will be probated here (Art. 815). However, you mentioned changing your will once you come back so you should be aware of the formal requirements (i.e. attestation clause, three witnesses, signing at the side of every page etc.). To make your life easier, I suggest that you make a holographic will (Art. 810), which is a: "will which must be entirely written, dated, and signed by the hand of the testator himself. It is subject to no other form, and may be made in or out of the Philippines, and need not be witnessed"<br /><br />And good on you for knowing your mom well enough to ask your aunt to help distribute the money.Jillsabshttps://www.blogger.com/profile/14049665679120861653noreply@blogger.com