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Estate Planning Question

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1 Estate Planning Question on Sat Jul 15, 2017 1:35 pm


Arresto Menor
Our mother recently passed away and we are in the process of transferring her real properties to our name(s). We are three siblings, plus my father.

Properties were settled extra-judicially wherein all heirs agreed to keep properties intact and share them equally.

We are now waiting for the issuance of the new TCT after having settled mom's estate tax and complying with all the requirements of the RD.

My question is this:

1. Could my father still waive his share of inheritance now and still enjoy the donor's tax rate of the zonal value of the property at the time of death of my mom? (could the extrajudicial settlement still be amended to include a waiver)

2. could my father donate portions of his share in inheritance and his conjugal share in increments so as to take advantage of threshold for donor's tax.

If we are three siblings, could he donate 300,000 pesos worth of property every year till he passes so we do not have to pay donor's tax for the transactions.

Thank you for any insights.

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