Array
Money Matters

What Are The Fees When You Transfer Property Titles And Assets?

Know the fees that need to be paid when doing your estate planning

Shares
Photography: Pexels

A successful estate plan allows you to properly manage and more efficiently distribute assets and income during your lifetime while, at the same time, relieving your heirs of the burden of settling your estate. Doing so, however, will cost you time and some money, but both are worthwhile and necessary.

Atty. Raul G. Gerodias of the Gerodias Suchianco Estrella Law Firm outlines the general costs and charges that must be considered before implementing one's estate plan:

Standard taxes and fees

Taxes payable to the national government (collected through the Bureau of Internal Revenue) and to local government units, and fees payable to concerned government agencies (like the Registry of Deeds).

Professional fees

These are the fees payable to an estate-planning consultant (e.g. lawyer, accountant).

Other fees and charges

These may include expenses payable to persons other than the State or the government, such as premiums for insurance, bank charges, and such. 

ADVERTISEMENT - CONTINUE READING BELOW

This snippet appeared in the article "Starter Guide To Estate Planning" in the May 2015 issue of Good Housekeeping Magazine Philippines

CONTINUE READING BELOW
Recommended Videos

More on Realliving.com.ph

Shares

Read more stories about

Latest Stories

A Relaxing Cottage-Inspired Makeover for a 39sqm Condo Unit in Makati

Prior to the renovation, the studio unit used to look dark and gloomy.

Heart Evangelista's Advice When Redecorating Your Home

"It's your home, not their home."

5 Things You Can Do When You Have Too Many Plants at Home

Keep them in the secret corners of your space

Smart Space Planning Transformed This 64sqm Condo Into a Two-Bedroom Home

Interior designer Catherine Cena added secret nooks and hidden closets to maximize the space

All the Pastel Pink Ovens You Can Shop Online

Add pink hues to your kitchen!

This Family Rediscovered Simple Living Beyond the City in This Container-Inspired Home

In this episode of "Kakaibahay," Shirley Joy Martir welcomes us into her family's tiny home away from home.

QC To Bulacan In 35 Minutes? MRT-7 Poised to Make It Happen

Here's everything you need to know about the train line.

Dimples Romana Gives a Tour of Her Newly-Furnished Halfway Home

Take a look inside the actress' two-storey condo in Makati.

This Mood Lamp Will Give Your Bedroom a Young, Artsy Vibe

It comes in three different colors!
Load More Stories

Get inspiring design ideas and handy hints.
Subscribe to our newsletter now!