Conserving your family’s inheritance; for you to leave a legacy to them is what you do best.
But did you know that you have a “Silent Partner” in all your estate?
There is nothing certain in the future except for two things: “Death & Estate Tax”. Should anything happen to you…. Your family needs to pay about 20% estate tax in exchange for the inheritance you left.
The sad reality is the government – BIR will certainly take the juiciest assets of your loved ones in the form of CASH, yes C-A-S-H within 6 months from the day you die based on Section 90 of MIRC. Failure to file and pay on time & your family will have to pay an additional 25% penalty.
If your loved ones d not have available cash to settle taxes, they will be forced to sell your precious assets at a bargain. What is worse is you cannot transfer or sell your properties unless you settle this tax.
Where is the cash coming from?
Option 1: You have to use your cash savings.
Option 2: You have to liquidate your properties, sell them at a bargained price.
Option 3: Borrow money from the bank or mortgage properties (interest payment).
Option 4: Life Insurance.
You will see that Option 4 is the most convenient. It is planning ahead for your loved ions to inherit the entire estate by paying a small premium NOW to cover for the estate.
The assets you accumulated for your loved ones will be deleted unless you shift your family’s estate. Tax burden to us. With this Life Insurance, you cannot lose, only you will preserve your part for the estate for generations to come.
For more information, please contact us.