Succession and Transfer Taxes

Question 1

What can be transmitted through death? (3)

Answer 1

Properties, Rights and Obligations

Question 2

Types of Transfer Taxes (2)

Answer 2

Estate Tax (Donation mortis causa)
Donor's Tax (Donation inter vivos)

Question 3

Kinds of succession? (3)

Answer 3

Testate
Intestate/Legal
Mixed

Question 4

Kinds of Compulsory Heirs? (3)

Answer 4

Primary
Secondary
Concurring

Question 5

Composition of Gross Estate?

Answer 5

Legitime (75%)
Free Portion (25%)

Question 6

Order of Intestate Succession?

Answer 6

Legitimate children / descendants
Legitimate parents / ascendants
Illegitimate children / descendants
Surviving spouse
Brothers and sisters, nephews and nieces
Other collateral relatives within 5th degree
State / government

Question 7

Who cannot make wills? (2)

Answer 7

Minors

Persons who are not of sound mind

Question 8

Kinds of wills? (2)

Answer 8

Notarial / Ordinary / Attested Will

Holographic Will

Question 9

Requisites for a Notarial Will? (3)

Answer 9

Writing and language must be executed in a language known by the testator
Must be subscribed by the testator himself or someone in his presence
Must be attested and subscribed by three more witnesses

Question 10

Reasons for revoking a will?

Answer 10

By implication of law
By some will or codicil or other writing executed as provided in case of wills
By burning, tearing and obliteration of will with the intention of revoking it by the testator someone in his presence

Question 11

Rights of representation (3)

Answer 11

Death
Incapacity
Disinheritance