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jrlee183 last won the day on April 10

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About jrlee183

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  1. Window security

    Just asked my friend (HSE consultant in Manila, and ex UK fire fighter) about this and the obvious fire safety risk. There is no easy solution, but his suggestion would be to have some bars on hinges which can be padlocked or some sort of window frame that doest the same thing. Not as effective as welded or built into the brickwork but at least you can get out in the event of a fire. Would also be worth investing in a fire extinguisher or two. Someone mentioned about getting the local fire chief round for his opinion. That's a sensible idea, but some (certainly not all) fire chiefs/fire fighters are incredibly poorly versed in fire safety law. My same friend went to the local fire station to say hi and introduce himself. Whilst there he witnessed the firemen hosing down their fire retardant suits/equipment and then hanging to dry outside. He then asked them if they had spares. They replied 'no sir' to which he then asked if they were going home. Again, 'no sir. He then pointed out that if they had to go and extinguish a big fire from inside the burning building they would essentially be cooked alive in steam from the trapped water if the suits weren't dry yet.
  2. I think one member had some success advertising locally made hot sauce a few months ago on the forum. Don't have any specific numbers but I know some members purchased.
  3. Money transfer FAILS

    I second world remit. Absolutely hassle free and best of all if you transfer to Metrobank, BDO, BPI or PNB the money is in your account literally within less than 30 minutes. My bank charge me GBP 20 for an international SWIFT transfer. World remit charge between GBP 1.99 - 9.99. Faster, cheaper an much better exchange rate. Im actually in the process of trying to get them to offer some sort of promo for members of this forum, but they seem to be ignoring me. Jamie
  4. No problem. Yes your son would own the house in full, and siblings are not considered compulsory heirs so your husband could leave the house to your son no problem. You can own anything other than Land so your husband can leave cash, vehicles etc. Do bear in mind though that all liquid assets are frozen until such time that the estate taxes are paid and a clearance certificate is issued by the BIR. One more item to note ..... is your Son Married? If he is married when he inherits the property/land then it becomes his exclusive property meaning he is the sole owner, and that will never change. If he inherits it when he is unmarried, but then subsequently gets married then it becomes conjugal property between him and his wife (even if it is only his name on the title, it is still considered 'conjugal property' as far as the Philippines is concerned). Of course, lets hope they stay happily married, but This could potentially put you in a difficult position in the event of divorce and or premature death (god forbid) of your son. Sorry to sound negative and morbid but unfortunately these things need to be taken into consideration on matters like this.
  5. Hi Queenie, Sorry for my delayed reply - been traveling all week! So the main issue is the house, right? In that case, as both of your husbands parents have passed, you and your son are the compulsory heirs. Other family members such as siblings, aunts and uncles only become compulsory heirs in the absence of direct ascendants/descendants. HOWEVER, being a foreigner you are only entitled to inherit land if your husband dies intestate (i.e. without a Will). However even if you inherited it this way then my understanding is that you can own it, but you cannot bequeath it to anyone after your death. So in this case, as your only son is a Filipino Citizen he is automatically entitled to 50% of your husbands estate regardless. You, as his wife, have an entitlement of 25% in his will (or 50% if he dies without a will), and the balance he can leave to anyone he chooses (including yourself). If the property is your sole asset in the Will then he should leave the house to your son, and presumably your son would allow you to continue living in it. If you have other assets, he could leave those to you providing it follows the forced heirship rules. Regarding a Will - a holographic will is fine (basically a will written in your own handwriting, dated, signed and NOT witnessed). Hope this helps. Jamie
  6. Money and the family

    Having thought about this overnight I think the best solution is as follows: 1. Dont buy the house of Dad now, as emma would only receive 20% of the cash back on his death. 2. In the event of Dad's death, then presumably the family would prefer to have the cash as opposed to the property itself? 3. If so, then Emma then agrees to do an 'extra judicial settlement' with the siblings. This is basically an agreement between ALL of the compulsory heirs that the property would be distributed differently from what the law states, however it is essential that all of the heirs agree (in the UK we call it a deed of variation). As part of this, you could include a clause to pay the other siblings PXXXX in exchange for their share in the property. This could be part of the document itself, or a side agreement. 4. End result is you would effectively be buying the property, less Emma's share so saving 20% of the purchase cost. Family would be happy as they have cash in their hands, and you have sole ownership of the property. Of course estate taxes would need to be paid etc etc. As always, get a competent attorney to do this document for you
  7. Presumably you are not married? If so then you should be able to draw up a lease, but you cannot lease from your wife. You can lease from a corporation however so that is an option. Need to seek the advice of an attorney to find a solution to best fit your circumstances. Your daughter, estranged or not, is still a compulsory heir and as such has a claim on your estate. Only in the event of her death would your grandchildren become compulsory heirs.
  8. There are some slight differences between how your estate would be distributed if you were to die with or without a will. It also gives you an opportunity to specify burial rights/cremation etc. It also allows you to use the free portion of your estate to leave to those who are not compulsory heirs.
  9. Sorry, just to clarify, when I say 'legitime' i mean his compulsory heirs by way of forced heirship. I wasnt questioning his legitimacy . Yes a foreigner can be an heir, but as Scott says, would your sister really want to deal with the issue? Good advice .... my logic is to never invest in anything here that you are not prepared to walk away from. I keep very little in the way of assets here
  10. Money and the family

    If they bought them out then they would have total ownership and the property is theirs. Then the cash is the asset, of which Emma would be entitled to her share in the event of her parents death
  11. Money and the family

    Yes, it can be done, but the issue is still there; You are basically exchanging one asset for another. In this case property to cash. That cash will be then be distributed amongst the compulsory heirs.
  12. It would depend on his legitime, and his will would have to follow that. If his parents are still alive then they could potentially inherit all of the land.
  13. Hi Steve, sure, no problem. So you own the building but not the land. Yes, in theory you could leave the property (not the land) to your sister, assuming you have no other compulsory heirs. I have not heard that a lease can be transferred to your heirs before, but if it says it in a contract and the contract has been drawn up by a competent lawyer and properly witnessed and notarized then should be no problem. Again, I would state this clearly in your will. The bigger issue would be if your partner were to die first; his compulsory heirs would then own the land and while the lease is in tact, if you were to then pass away, they could possible question the succession clause in your contract and possible void it all together (again this depends on how competent the lawyer was). A good back up to this would be to purchase a straightforward life insurance policy effectively giving her the value of the property without actually owning it (if that makes sense!). The land/property one is always difficult and a grey area. Hope this helps. Jamie
  14. Ok so in that case, 50% of her estate would go to her, and 25% to you. 25% will be the free portion. Siblings will have no claim to the estate unless included in her will as part of the free portion.