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Name:

Group Name:

Give the meaning of the following terms:

1. Estate Tax
2. Estate
3. Will
4. Decedent
5. Heir

Direction: Encircle the letter that corresponds to the BEST answer.

1. A kind of succession which results from the designation of an heir, made in a will
executed in the form prescribed by law.
A. Testamentary B. Legal or Intestate C. Mixed D. Legitime

2. , is the portion of the testator’s property which could not be disposed of


freely because the law has reserved if for the compulsory heirs.
A. Free portion B. Legitime C. Executor D. Devise

3. A person appointed by the court, in accordance with the governing statue, to administer
and settle intestate estate and such testate estate as no competent executor designed by the
testator.
A. Legatee B. Devisee C. Administrator D. Mixer

4. While the decedent may dispose of his properties in a last will and testament, he must,
however, reserve some for certain persons who are called by law as .
A. Forced heir B. Compulsory heir C. Compulsory and forced heir D. None

5. Transmission of properties, which is effected partly by will and partly by operation of


law.
A. Joint B. Mixed C. Mixed and Joint D. None

Part III: Use the terms provided inside the box to do the format of computation for single
decedent
*Write your answer here….

Format of Computation
Gross Estate
1. Single Decedent
Special Deductions
Gross Taxable Estate
Net Taxable Estate
Estate Tax Due
Estate Tax Payable
Tax Credit
Share of Surviving Spouse
Ordinary Deductions