1 Page J.A.

Villanueva, CPA

PROPERTY REGIME (MARIED DECEDENTS) Exclusive Properties under CPG:

1. Properties brought into the marriage as either of the spouse's
The system of property relationship is applicable only to married own.

persons. It is used to distinguish common properties from exclusive 2. Properties acquired by gratuitous title during marriage.
properties. 3. Properties acquired by right of redemption or by exchange with
other exclusive properties.
Types of Property Relations: (Art. 75 of Family Code) 4. Properties acquired with the exclusive money of either spouse.
1. Absolute Community of Property
2. Conjugal Partnership of Gain
3. Complete Separation of Property
4. Any other regime.

Important date to remember:

*August 3, 1988
. Before- CPG
.
On or After- ACP

Exclusive Properties under ACP:

1. Properties acquired during the marriage by gratuitous title by
either spouse, and the fruits as well as the income thereof, if
any, unless it is specifically provided by the donor, testator, or
grantor that they shall form part of the community.
* Fruits follow principals.
2. Property for Personal and Exclusive use of either spouse.
Excpt: Jewelry
3. Property acquired before the marriage by either spouse who
has legitimate descendants by a former marriage and the fruits
as well as the income, if any, of such property.

Business and Transfer Taxation: Banggawan Transfer and Business Taxation: Tabag and Garcia National Internal Revenue Code as Amended
Transfer and Business Taxation: Valencia and Roxas Relevant Revenue Regulations Related Laws
2 Page J.A. Villanueva, CPA

ESTATE TAX MODEL: Married Decedent:

Single Decedent: GROSS ESTATE: Common Exclusive Total

Real Property XX XX

Tangible Personal Property XX XX

Gross estate XX Intangible Property XX XX

Certain Transfers XX XX
Ordinary Deductions (XX) TOTAL XX XX XX

Special Deductions (XX) ORDINARY DEDUCTIONS:

Losses XX) (XX)

(
Net Taxable Estate XX Indebtedeness or Claims agains the estate (XX) (XX)
Unpaid Taxes XX) (XX)
Multiply by Estate Tax Rate 6%

(
Others (Claims against insolvent persons) XX) (XX)

(
Estate Tax Due XX Vanishing Deductions:
CPG (XX)
ACP XX) (XX)

(
Transfer for Public Use (GR: Exclusive) (XX) (XX)
Net Common/Exclusive Property before special deductions XX XX XX

SPECIAL DEDUCTIONS:

STANDARD DEDUCTION (XX)

FAMILY HOME (XX)
RA 4917 (XX)
NET ESTATE before Share of the Surviving Spouse XX

Share of the Surviving Spouse (XX)

NET TAXABLE ESTATE XX

Multiply by Estate Tax Rate 6%

ESTATE TAX DUE XX

Business and Transfer Taxation: Banggawan Transfer and Business Taxation: Tabag and Garcia National Internal Revenue Code as Amended
Transfer and Business Taxation: Valencia and Roxas Relevant Revenue Regulations Related Laws