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Arresto Menor
The “SUBJECT” (an aunt ) is a female, American, 63 years old, single who lives in Long Beach, California, only child whose mother passed away five years ago. Her father died years earlier. Without a will, her deceased mother, a Filipino immigrant, left behind personal and real properties (house and apartment units in Long Beach) and certificates of common stocks that remain in the name of the deceased mother in a Top 20 Philippine company listed at Philippine Stock Exchange (PSE) with a current market value of at about USD 800,000. From information I gathered, the real property are now registered under her name after complying with certain California legal requirements. It is her intention to enjoy the benefits of the stocks by selling substantial portion of the stocks and
• Remitting most of the proceeds to an account in US dollars.
• Keeping a portion of the proceeds in Php to be given to relatives in the Philippines and establishing a foundation to finance charitable endeavors of her mother.

She also intents to keep a small number of shares under her name as a remembrance from her mother.

1. What are documentary requirements and the procedures that will enable the SUBJECT to dispose stocks particularly considering the real property has already been transferred under her name even in the absence of a will ?
2. What are the requirements and the procedures that will enable her to have most of the proceeds converted in US dollars and having it remitted to her bank account in the US ?
3. What is the estimated timeline from the time the requirements are submitted up to the time most of the proceeds are remitted to her bank account in the US ?
4. If she is able to be a dual citizen, will it simplify the process of transferring stocks under her name ?
5. In the event that she can not come over to personally attend the matter, can she designate me an attorney-in-fact ?

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