Hi! Not that I'm dying soon, but I thought it a good idea to type out my Last Will and Testament. The possessions I have that are of most value are 2 cars and a lot which are under my name. When I pass, I want them to go to my brother and not have him pay inheritance tax or whatever tax is applicable.
My question is, if I include an extra document in my will stating the cars and lot are in payment of the P 1M loan I got from him (fictitious, but no one knows that) on x date and am transferring ownership to him and include all original documents of my registration/ownership, will that work? Will that be sufficient for him to transfer it to his name when I'm gone?
thanks!
My question is, if I include an extra document in my will stating the cars and lot are in payment of the P 1M loan I got from him (fictitious, but no one knows that) on x date and am transferring ownership to him and include all original documents of my registration/ownership, will that work? Will that be sufficient for him to transfer it to his name when I'm gone?
thanks!