Estate and Trust

The property, rights and obligations of a person which are not extinguished by his death and those which accrued thereto since the opening of succession.

• Assets

• Capital

• Estate

• Income

The term applied to the person whose property is transmitted through succession, whether or not he left a will

• Decedent

• Transferor

• Transferee

• Grantor

The term applied to the person whose property is transmitted through succession, if he left a will

• Transferor

• Grantor

• Donor

• Testator

The person to whom a gift of real property is given by virtue of a will

• Heir

• Devisee

• Legatee

• Trustor

For income tax purposes, any person or corporation that holds in trust an estate (or property) of another person or persons

• Beneficiary

• Fiduciary

• Legatee

• Devisee

• ₱800,000

• ₱650,000

• ₱3,650,000

• None of the above.

The person who establishes a trust

• Heir

• Devisee

• Legatee

• Trustor

• ₱161,200

• ₱335,200

• ₱185,200

• None of the above.