Answered: Compute for the following: 1. Compute…

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Compute for the following: 1. Compute for the Gross estate 2. The net estate 3. The estate tax due and payable

Administration Of Wills/Trusts/ And Estates

5th Edition

ISBN:9781285281308

Author:Brown

Publisher:Brown

Chapter4: Intestate Succession

Section: Chapter Questions

Problem 3SYPS

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Question

100%

Angel, married resident alien, died on January 15, 2021. She left the following properties, expenses and obligations:

Community properties, Philippines (including family home valued at P1,800,000) P8,000,000

Community properties, Abroad 2,000,000

Exclusive properties, Philippines 3,000,000

Claims against the estate (Common) 300,000

Devise to National Gov’t included in Common Properties 500,000

Legacy to Local Gov’t included in exclusive properties 700,000

Compute for the following:

1. Compute for the Gross estate

2. The net estate

3. The estate tax due and payable

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