NET DISTRIBUTABE ESTATE

Mr. Dino died on Dec. 9, 2020 and leaves the following properties. He is under absolute Community
property regime when he died:

House and lot considered Family Home………………………………………………15,000,000

Agricultural land…………………………………………………………………………………….6,000,000

Other properties considered common prop………………………………………….5,000,000

Exclusive properties are:

Condo unit inherited from the mother during the marriage……………….6,000,000

Charges against common property……………..........................................2,000,000

Charges against exclusive property……………………………………………………..1,000,000

Compute estate tax and net distributable estate)

Net taxable estate (Based on Net Distributable Estate (based

Law) on Actual)
Gross estate
House and lot 15,000,000 15,000,000
Agricultural land 6,000,000 6,000,000
Other common prop 5,000,000 5,000,000
Total community 26,000,000 26,000,000
Exclusive property 6,000,000 6,000,000
Community deduction (2,000,000) (2,000,000)
½ surviving spouse (12,000,000,) (12,000,000)
Exclusive deduction (1,000,000) (1,000,000)
Standard deduction ( 5,000,000) 0
Family home (10,000,000) 0
Net taxable estate 2,000,000
Estate tax (6%) (120,000)
NET DISTRIBUTABBLE ESTATE 16,880,000

COMPUTE THE SHARE PF THE HUSBAND AND THREE CHILDRE FROM THE ESTATE OF MR. DINDO

WIFE 4,220,000

CHILD 1 4,220,000

CHILD 2 4,220,000

CHILD 3 4,220,000
OR

LEGITIME ADJUSTMENT FINAL DISTRIBUTION

WIFE 2,813,33.33 1,406,666.66 4,220,000
CHILD NO. 1 2,813,333.33 1,406,666.66 4,220,000
CHILD NO. 2 2,813,333.33 1,406,666.66 4,220,000
CHILD NO. 3 2,813,333.33 1,406,666.66 4,220,000
TOTAL 11,253,333.333 5,626,666.66 16,880,000

HEIRS

WIFE

CHILD

LEGITIME ADJUSTMENT FINAL DISTRIBUTION

WIFE 4,220,000 1,406,666.67 1/3 5,626,666.67
CHILD 8,440,000 2,813,333.33 2/3 11,253,333.33
TOTAL 12,660,000 4,220,000 16,880,000

Mr. Dino died on Dec. 9, 2020 and leaves the following properties. He is under absolute Community
property regime when he died:

House and lot considered Family Home………………………………………………18,000,000

Agricultural land…………………………………………………………………………………….6,000,000

Other properties considered common prop………………………………………….4,000,000

Exclusive properties are:

Condo unit inherited from the mother during the marriage……………….7,000,000

Charges against common property……………..........................................3,000,000

Charges against exclusive property……………………………………………………..2,000,000

Compute estate tax and net distributable estate ASSUMING THE DECEDENT BOUGHT ADDITIONAL
PROPERTIES DURING HIS LIFETIME COMING FROM HIS OWN SAVING WORTH P5,000,000.

HOW MUCH IS NET DISTRIBUTABLE ESTATE?

1, VILLLAN P19,700,000

2 PANCITO, 22,050,000

3. TEMPLONUEVO, P20,760,000

4. MIRABUENOS 19,640,000
5. RABUGA, P15,320,000

DONATION