Edward donated a lot worth P650,000 to his cousin Karl subject to the condition that Karl will assume the P50,000 accrued real property tax on the lot. What is the donor's tax? a. P21,000 b. P24,000 c. P36,000 d. 0

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Reasons for Estate Planning

Planning is a process that helps decide in advance about future activities and operations. Planning helps to draft the procedures by identifying, analyzing, and designing how to work, when to work, by whom should be done, and what has to be done. It is the primary step followed by a person, business organizations, institutions, companies, etc.