Part 1- Extra Judicial Settlement of Estate

 Legacy from ancestors

Happy day to everyone! My name is Anchi, a mother to a lovable daughter and sweet furbabies.  Welcome to my first blog😁.

These days, I am assigned to work on a legacy from ancestors. I decided to chronicle and share my experiences while working on this. Please follow me,  as I go through the process, you may be able to find helpful information.

Extra Judicial Settlement of Estate

There is no will and testament, so the legacy would be via the Extra Judicial Settlement of Estate. Quite complicated, but there's no other way to go. After a thorough search and help from knowledgeable family members, I came up with the "Extra Judicial Settlement of Estate" template. I will attach the form in this blog for reference. There may be people, like me,  who are also into it or will be undergoing the process. After the form has been signed, we proceeded to have it notarized by a Notary Public. The fee was just minimal because it was not that big,  a property and it is an agricultural land.

Publication of the Extra Judicial Settlement

Once the document was notarized, we moved to the next step, that was the publication of the Extra Judicial Settlement of Estate. The publication process runs for three consecutive weeks. It must be published in a newspaper of general circulation. We opted to have it published in a tabloid to save on money. Application for publication was just done online for ease and convenience. Moving around to places nowadays,  is difficult due to pandemic. So, we really appreciate the online schemes by most of the companies.

Checklist of Requirements

While waiting for the three consecutive weeks publication to finish, I managed to secure a checklist of requirements for Estate Tax filing with the Bureau of Internal Revenue. As you know, once the publication is done, the next step is to submit the Extra Judicial Settlement of Estate document to the BIR with all the required attachments for evaluation of the estate tax. There may be an amount to be paid or will be exempted. That would be dependent on the evaluation of the BIR base on the documents presented.

Here are the BIR requirements that need to be submitted together with the Extra Judicial Settlement of Estate document:

1. Certified copy of death certificate

2. Barangay certification of family home

3. TIN no of the estate and the heirs

4. Certified true copy of title

5. Certified copy of tax declaration at the time of death

6. Certificate of no improvement from assessor's office where the land is located

7. Sworn declaration of no improvement

8. Special Power of Attorney if you are not the concerned person (heir)

I will attach the checklist here for reference.

This may help people who are in the same situation.

This will be all for now, as the publication is still ongoing. I will update you here again once, I will move to the next step, that is submission to the BIR.

Note: Please see parts 2, 3 and 4 for the other details.  Thank you.

Follow me through!

Thank you and God bless 

Extra Judicial template

BIR checklist of requirements

DISCLAIMER:

All information stated on the Site is based on the actual experiences and researches of the author at the time of posting. This is not intended as a substitute for  professional advise. Information has been verified correct to the best of her knowledge, however, she cannot guarantee that there are no mistakes or errors. Rules and policies of government agencies mentioned on the blog may change without further notice.

The content and images posted on the Site is the intellectual property of the author.  You may not reuse, republish or reprint content and images without her written consent.