Creating An Estate Plan
The attorney’s at FIL-AM LAWYERS have guided many U.S. and Philippine based clients with the creation of individual and family Wills and Trusts over the past 25 years.
Our attorneys offer a range of services from simple estate plans to sophisticated planning techniques for individuals, families and business owners. We will help you ensure that your assets go to your intended beneficiaries and that the maximum amount of wealth is preserved for your loved ones.
Creating a “Situs” (where the property is located) estate plan is often necessary when planning for assets located in a foreign country. It is imperative that the Plan is prepared by a licensed attorney in that jurisdiction in order to ensure that the courts of that country will not only recognize that estate plan but also allow the administration of the decedent’s estate according to his wishes.
One little deviation from the requirements of the Civil Code can cause the entire Will to fail. Therefore, many will resort to creating a “Holographic Will,” which does not require much formality other than it must entirely written, dated and signed by the testator. The problem with “Holographic Wills” is that most people who are writing their own Wills are not familiar with the “forced heirship” rules of the Philippines, referred to as Legitime. As such, if a handwritten Will violates the rights of any of the heirs under the Philippine law of Legitime, then the Holographic Will can also fail and will not be enforceable.