Inheritance of my condominium

Hi, as a soon to be SSRV holder in Philippines, I had a question about what would happen if I die.

Having no family or wife in Philippines, would my family back in Australia get to inherit my Condominium in Philippines if i was to die either in Australia or Philippines?


Not that i am planning on dying in the near future, but I was just wondering how hard of a time my parents or sister would have trying to get the property sold or in their name if i was not around?

Thank you in advanced

There might be estate taxes to be paid for that property after your death before it be transferred to their names. Make sure to make a living will and consult a Filipino lawyer of the legalities.

your first siblings or parents would inherit your property, you have to mention this however in your will.

Would that be my Will in Australia (my home country) , or do I need to make a separate Will for the Philippines where the property is held?

Normally the will is done in the country where the property is located. But I would also
make one in Australia and also consulting a lawyer there...

robal

It all comes down to where the assets are held.  The location of the assets is that primary legal compliance.  As the Condo, is in the Philippines you may wish to looking into a will in the Philippines.  If you have assets in Australia then you may also need to have a will in Australia.

Then looking into your Super if you have any.  It is different again.

Yeah thanks. I think it is safest to have a Will in both countries.

I have read Philippines will honour foreign Wills, but a safer bet is to just make on in Both countries and give copies to family members.

Thankyou

Just make sure that you have clauses stipulating that one Will does not substitute the other if you have different properties in both countries. Different people might be receiving different types of properties. So those Wills should be working independently and the new Will from one country does not invalidate or cancel the older Will from another.

robal

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