ABUSI 206 Gross Estate

1. Mr. Carlos, married to Ms. Belen, died during the current taxable year leaving the following properties:

a. Two-door commercial building inherited from his father 10 years before marriage valued at P4,000,000 at
the time of death;
b. Seven-hectare agricultural land planted with coconut and other high-value crops donated by his mother
during marriage with a fair market value of P2,000,000 at the time of death;
c. House and lot acquired during the marriage with a fair market value at the time of death of P5,000,000;
d. Three-door apartment owned by Mr. Carlos before marriage with a current value at the time of death of
P5,000,000;
e. Four-hectare fishpond owned by Ms. Belen before marriage valued at P4,500,000 at the time of death;
and
f. Cash of P6,000,000 representing income from various properties that cannot be identified to which
properties it pertains.

Required: Determine the gross estate of Mr. Carlos under the following property relations:
1. Conjugal partnership of gains; and
2. Absolute community of property

2. When Peter married Juana, they executed an agreement that their property relation shall be governed by the
complete separation of property. Upon the death of Peter, the following were the properties:

50-bedroom hotel inherited by Peter P12,000,000

Cash deposit of Peter from exercise of profession 1,500,000
40-hectare banana plantation acquired by Juana during marriage 15,000,000
House and lot acquired during marriage by the couple wherein
40% of the value was contributed by Peter 8,000,000
Car acquired by Juana during marriage 2,000,000

Required: Under the complete separation of property, determine the gross estate of the decedent.

3. Mr. Lhinag Pang, married and resident citizen, died with the following properties:

Tangible personal property in Iligan city acquired through succession

By Mr. Lhinag Pang before marriage P120,000
Income from inherited property in Iligan City 18,000
Intangible personal property in Singapore, acquired by wife through
Succession before marriage 650,000
Income of personal property in Singapore 92,000
Real property located in Pigcawayan, Cotabato brought into marriage by spouse 560,000
Income of real property in Pigcawayan 45,000
Real property on Midsayap brought into marriage 510,000
Income of real property in Midsayap 40,000

Required: Determine the following:

1. Gross estate of Mr. Lhinag Pang under the conjugal partnership of gains.
2. Gross estate of Mr. Lhinag Pang under absolute community of property.