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extra judicial settlement with waiver of rights

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luzi


Arresto Menor
we're planning on executing an extra judicial settlement for a property left behind by mom. can my sister waive her rights to a share in the property in favor of her own daughter? will she need to pay a tax on top of estate tax?

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taxconsultantdavao


Reclusion Perpetua
yes. your sister can waive her rights in favor of her own daughter. pero kailangan masali muna sya s extrajudicial settlement as signatory , magsettle muna sa property kayong mga siblings before niya ma waiver ang share ng sister mo sa kanyang anak. para walang technical at legal na problema later on.

as to the question kung me tax ba ang waiver niya, depende ho sa value ng property kung me donors tax.
pero ang first 100,000. pesos is exempt. better go to the bir for proper assessment , tapos ipacountercheck mo sa friend mo na tax or cpa practitioner. always make it a point na mapacheck mo ang bir computation kasi not all the time, tama sila. minsan, iyong iba jan na examiner, me monkey business. o kaya magkamali sila.

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