fred Posted June 18, 2015 Posted June 18, 2015 Yes, that can be a big problem, although not as big as 20 %. YES as big as 20%!!! Depends on value of estate.. Read Jacks link! Link to comment Share on other sites More sharing options...
Thomas Posted June 18, 2015 Posted June 18, 2015 Yes, that can be a big problem, although not as big as 20 %. YES as big as 20%!!! Depends on value of estate.. Read Jacks link! It's 20% at the part ABOVE 10 000 000p. AT 10 mill it's 12 % and AT 5 mill it's less than 10 %. Or is it other table than I read (=1998)? Link to comment Share on other sites More sharing options...
Guy F. Posted June 19, 2015 Posted June 19, 2015 (edited) Very interesting. I'm thinking the wife could will the entire estate to our daughter and I'd be OK as long as my daughter didn't turn to the dark side. This thread contains the most valuable info I've seen on the internet in a long time. Edited June 19, 2015 by Guy F. Link to comment Share on other sites More sharing options...
fred Posted June 19, 2015 Posted June 19, 2015 Very interesting. I'm thinking the wife could will the entire estate to our daughter and I'd be OK as long as my daughter didn't turn to the dark side. This thread contains the most valuable info I've seen on the internet in a long time. Very interesting. I'm thinking the wife could will the entire estate to our daughter and I'd be OK as long as my daughter didn't turn to the dark side. This thread contains the most valuable info I've seen on the internet in a long time. She could donate it to your daughter .. Donation tax 15% depending on estate value!!!! (from memory) Link to comment Share on other sites More sharing options...
Thomas Posted June 19, 2015 Posted June 19, 2015 Very interesting. I'm thinking the wife could will the entire estate to our daughter and I'd be OK as long as my daughter didn't turn to the dark side. She could donate it to your daughter .. Donation tax 15% depending on estate value!!!! (from memory) My friend from back in school solved it by buying the land DIRECT in the first child's name (Fil-Swede) when she was small kid. That was over 30 years ago, and no problem - so far :) Link to comment Share on other sites More sharing options...
Guy F. Posted June 20, 2015 Posted June 20, 2015 So would the child need to have been born in the PI in order to be given land and a house? Link to comment Share on other sites More sharing options...
Jack Peterson Posted June 20, 2015 Posted June 20, 2015 So would the child need to have been born in the PI in order to be given land and a house? Apparently not but will need to be a citizen of the Philippines and can inherit through family progression. There are certain other rules and I dug out a bit more that may be helpful on this issue. It really is all mindboggling at each turn http://www.globalpropertyguide.com/Asia/Philippines/Inheritance JP :tiphat: Morning all. :morning1: 1 Link to comment Share on other sites More sharing options...
Thomas Posted June 20, 2015 Posted June 20, 2015 So would the child need to have been born in the PI in order to be given land and a house? Apparently not but will need to be a citizen of the Philippines and can inherit through family progression. There are certain other rules and I dug out a bit more that may be helpful on this issue. It really is all mindboggling at each turn http://www.globalpropertyguide.com/Asia/Philippines/Inheritance Interesting :thumbsup: So we need to worry even LESS than I wrote about cost, because of the DEDUCTIONS and this tell the spouse's part is FREE, which I were unsure of. BUT LOOK UP! That text tell a WILL can make it HARDER, because will cases HAVE TO go to court, which take half to 7 YEARS :unsure: Link to comment Share on other sites More sharing options...
BluesDude Posted June 21, 2015 Posted June 21, 2015 Our kids we're both born in the states. They're now dual citizens of the United States and the Philippines. The process was really simple. We provided marriage certification, my wife's birth certificate, the kids birth certificates, filled out a form and sent, if I recall correctly $50 per child to the Chicago Consulate. About eight weeks later, we received their Philippine passports. It gives them some great options and will make it possible for them to inherit. 3 Link to comment Share on other sites More sharing options...
fred Posted June 21, 2015 Posted June 21, 2015 Our lawyer told us that your kids have to be at least 18 before they can purchase property here...A quick online search confirms this. 1 Link to comment Share on other sites More sharing options...
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