Later, in December 31, 2026, Makiri married P. Nikot, the best friend of P. nalad.

Unfortunately,
their marriage did not last long when Makiri died on February 14, 2028, one day after giving birth
to their first child. An inventory of their properties and obligations shows:

Makiri P. Nikot
a. Property owned before marriage Php 8,000,000 Php 1,000,000
b. Income of property in (a) above 2,000,000 200,000
c. Property acquired during marriage:
I. By gratuitous title 10,000,000 2,000,000
II. By onerous title 2,000,000 3,000,000
d. Income of property acquired marriage:
I. By gratuitous title 4,000,000 1,000,000
II. By onerous title 400,000 100,000
e. 10-door apartment units purchased from money
Given by her father during the marriage FMV 10,000,000
f. Proceeds of life insurance where the beneficiary is
I. P. Nikot – revocable 1,200,000
II. Her estate – irrevocable 2,400,000
g. Receipt of proceeds of insurance on property
owned before the marriage which were
destroyed by fire on February 10, 2027
FMV on February 10, 2027 9,000,000 2,000,000
Insurance recovery 7,000,000 1,000,000
h. The property acquired during marriage –
by gratuitous title were acquired thru inheritance:
I. FMV at the time of inheritance 4 ½ years ago 9,000,000
II. FMV at the time of inheritance 3 ½ years ago 3,000,000
i. Residential house and lot used as family home
(purchased by Makiri during marriage where
50 % came from her sister as birthday gift
and 50 % was borrowed from ABC Bank
payable on December 31, 2020 evidenced
by a notarized loan agreement) at fair market
value 8,000,000
j. Gambling winnings 200,000
k. Receivable from a friend who is insolvent 1,000,000
l. Accrued taxes:
i. Before the death of Makiri 400,000
ii. After the death of Makiri 200,000
m. Funeral expenses, 50 % covered by a
memorial plan and 50 % still unpaid 800,000
n. Cash on hand and in bank 8,000,000 800,000
o. Unpaid mortgage on property acquired
during marriage by onerous title
i. By Makiri 600,000
ii. By P. Nikot 400,000

If their pre-nuptial agreement provides for conjugal partnership of gains:

1. The exclusive property of Makiri is

2. The gross estate of Makiri is

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3. The vanishing deduction is

4. The net taxable estate is

5. The exclusive property of P. Nikot is

If the spouses have no pre nuptial agreement,

6. The exclusive property of Makiri is

7. The gross estate of Makiri is

8. The net taxable estate is

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