1. Isn't it that usually what are settled extrajudicially are real properties, can personal properties alone like bank accounts be extrajudicially settled?
My mother left no real property belonging only to her name. Most of the property she bought was co-owned by my father. Therefore, it is only her bank accounts that we needed to settle.
2. What are the requirements for paying estate tax if only personal property was left in the estate? Is there a penalty incurred because of the delay in payment?
Thank you very much and I hope that you can enlighten me on these matters.