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

This Idyllic Bahay Kubo in Silang, Cavite Promotes Sustainability

The Understory offers an intimate farm-to-table dining experience

A Modern Rustic Retirement Home in San Juan

Space Project Interior Design Services used Venetian plaster and wooden touches to create a haven that's sleek yet inviting

A Scandi-Inspired Condo Home for an OFW Nurse

Two units were combined to create a 45sqm space which interior designer Audrey Letada spruced up into a simple yet welcoming dwelling

A Contemporary Makeover for an Outdated Condo Unit in Ortigas

Inspired by chiaroscuro, a treatment focusing on the contrast of light and shade, Space Project Interior Design Services turned the old condo unit into a modern haven

Gold Porcelain Tiles and a Pocket Garden Complete This Loft-Type Penthouse

Using high-end finishes and furniture, design consultant Euzon John Catayong was able to transform the 155sqm space into a picturesque home

A Php700K Tiny Industrial House By The River

Andrew Elbo shares the story behind his sleek and modern home that stands out with its matte black exterior

10 Things We Love in Ivana Alawi’s Luxe Kitchen

It's minimalist and completed with tons of storage options

This 36sqm One-Bedroom Unit Takes Inspiration from Korean Apartments

Interior designer Claudine Medina transformed the bare unit into a welcoming home complete with multipurpose pieces, neutral colors, and natural finishes

This 28sqm Condo Unit in Manila is a Modern-Tropical Must-See

IDr. Andrea Santos-Alano of Feliz Interiors transformed the small space into a resort-like haven for a family of three

Bye Bye Langaw: 7 Ways to Get Rid of Houseflies

These pesky critters may carry viruses and bacteria so it's best to keep them out of the house

Two New Branches of McDonald's Run on Solar Power

The well-loved fast-food chain introduces utility efficient solutions

Things You Need to Remember When Building a Small Kitchen, According to an Architect

Get an estimated amount of total cost and a list of materials you can use
Load More Stories