Mr. and Mrs. Pi gave the following gifts of conjugal property on July 15, 2021. To Barangay Delm, a parcel of land valued at P 1,500,000 To Sancio, a charitable institution, cash of P 500,000 To Mama Mi, mother of Mrs. Pi, her exclusive property worth P 750,000. At the time of donation, the property was mortgage for P 300,000 which was               assumed by Mama Mia. How much is the donor’s tax due of Mr. Pi? How much is the donor’s tax due of Mrs. Pi?

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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.