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Estate Assessment and Inheritance Quiz

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Questions and Answers

What information is required regarding the decedents' properties?

Location, classification, size, and number of properties (correct)

The location and classification of properties only

Only the location of the properties

The classification of properties and year of acquisition

Which detail is necessary about the heirs of the decedent?

The educational background of the heirs

The total income of the heirs

Whether all heirs are still alive (correct)

The occupation of the heirs

What is one of the essential requirements if a sale of property is involved?

Valuation of the property before the sale

Details of the deceased owner’s marriage

Name of the buyer

Specify which property is involved in the sale (correct)

What should be provided if not all heirs are alive?

The name, date of death, and last residence of deceased heirs Signup and view all the answers

Why is it important to have a family tree?

To show the relationships and lineage for inheritance clarity Signup and view all the answers

What details are needed regarding the marriage of the registered owners in relation to the decedents?

The year of marriage of the registered owners is required. Signup and view all the answers

What must be documented if some heirs are no longer living?

Details such as the name, date of death, number of properties, and last place of residence of the deceased heirs are needed. Signup and view all the answers

What is required to verify the acquisition of properties by the decedents?

The method of property acquisition and the year in which it occurred must be provided. Signup and view all the answers

If there is a sale of property, what information should be specified?

The specific property involved in the sale must be identified. Signup and view all the answers

Why is it important to confirm if the heirs are based in the Philippines?

This verification is significant for legal jurisdiction and the application of local inheritance laws. Signup and view all the answers

Study Notes

Information Required for Estate/Inheritance Assessment

Collect names of registered property owners and number of deceased individuals.
Note the date of death for each deceased person.
Specify the last address of each decedent at the time of death, as per the death certificate.
Determine the total number of properties owned by the deceased.
Detail the location, type, and size of each property.
If applicable, document the year the property owners were married.
Outline how each decedent acquired the property and the year of acquisition.
Count the number of heirs (children) of the deceased.
Verify if all heirs are currently living.
If any heirs are deceased, provide their:
- Name
- Date of death
- Number of properties owned.
- Last address at the time of death.
Indicate whether heirs reside in the Philippines.
Note if any property sales are involved and specify the affected property(ies).
Clarify if original title duplicates for the deceased owner are still extant.
All requests will be treated with strict confidentiality.
A family tree is requested.

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Description

Test your knowledge on the key elements required for estate and inheritance assessments. This quiz covers essential information such as property ownership, heirs, and legal documentation involved in the process. Prepare to tackle questions about decedents, their properties, and inheritance details.