| Helping You Plan for your Future

Estate Tax is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers, which are made by law as equivalent to testamentary disposition. It is not a tax on property. It is a tax imposed on the privilege of transmitting property upon the death of the owner. The Estate Tax is based on the laws in force at the time of death notwithstanding the postponement of the actual possession or enjoyment of the estate by the beneficiary. 

 

Computing for a person's Estate tax is based on a table multiplied by the Net Estate. This is normally levied to Real or immovable property, Tangible personal property and Intangible personal property.