Free Legal Advice Philippines
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

Hypothetical Question Lang

3 posters

Go down  Message [Page 1 of 1]

1Hypothetical Question Lang Empty Hypothetical Question Lang Tue Jan 13, 2015 2:07 pm

edwinic


Arresto Menor

Normal family with no huge conflict. Husband, wife and 3 adult offspring. No offspring outside marriage

Wife keeps all the money in her name, as agreed with husband.
All properties in the name of husband and wife.

In case the husband died, I understand that all the properties are divided legally among wife and offspring.
Question: What about the money in the bank? Are the offspring entitled to it?
Question: If the wife died, what is the division for money in the bank? Or is there such arrangement?

Thank you to those who will make an input to these questions.

2Hypothetical Question Lang Empty Re: Hypothetical Question Lang Tue Jan 13, 2015 4:49 pm

concepab

concepab
Reclusion Perpetua

Q#1. Yes.
Q#2. All properties, money and what so ever will be divided equally.

3Hypothetical Question Lang Empty Re: Hypothetical Question Lang Tue Jan 13, 2015 8:49 pm

edwinic


Arresto Menor

concepab, thank you.

4Hypothetical Question Lang Empty Re: Hypothetical Question Lang Tue Jan 13, 2015 10:07 pm

centro


Reclusion Perpetua

Unless there is a last will and testament defining how the estate is to be shared.
Without a will and testament and without any debt, the recognized sharing is 50% for the surviving spouse, the balance 50% to be shared equally among the children and the spouse.

You may want to have this validated.

5Hypothetical Question Lang Empty Re: Hypothetical Question Lang Tue Jan 13, 2015 10:16 pm

edwinic


Arresto Menor

Thank you centro.
I was concerned about the money in the bank, in the scenario that the wife would spend it for personal pleasure since the bank account is in her name. I thought that no one can stop her.

Now I realized that the offspring can do legal move to stop the drain.

Sponsored content



Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum