Expat Community > Philippines

JimmyLewis
Joined 2020
Posts: 436

Last Will/Testament

3 years ago

Anyone here in Philippines familiar with Last Will and Testaments and leaving a little something to friends here? I am Jimmy in Baguio-lived here over 8 yrs. Making up Last Will(Separate from my USA Will) and wish to leave something to my 3 yr live in Pinay EX gf. I have money in BPI and BDO accounts here and wish to leave it to her and her 5 yr old daughter. We broke up 5 yrs ago as she wanted a child and I didnt. Shes now a single mom no husband or BF. The money I have in my accounts in Phil I want to leave to her and her daughter and am now in communication with my bank manager and my lawyer here how to do that. BPI Manager said I can leave some kind of insurance policy(5000 usd) that will yield her 6,250 usd when I die. Another possible way is to have her and me with joint accounts which I dont know how thats gonna work. Seems it hard to leave bank account money to someone here other than a direct relative. Does anyone have any experience with that? Also I have about a half dozen Philippino friends here where I live that I wanna leave small gifts to-maybe 500usd each. I was thinking maybe I can write them a personal check drawn on my usa bank,put it in an envelope(sealed with scotch tape) and leave it with my Executrix of my Will here in Baguio. She can then give the envelopes to my friends here that live a few hundred meters away from me. She knows them all. I can leave a note inside the envelope to the individual person to take the check to BPI or BDO and immediately cash it as there is a 10-15 day waiting period for the check to clear. When I came to Baguio from China in 2012I had my usa checking account book and wrote a check to myself for 10k and was able to deposit that into my BPI account and had to wait the 10-15 days before it cleared and it was accepted. Does anyone here in this forum have any experience with any of this? Please send me a private message and include your personal email address.Thanks!Jimmy in Baguio City

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SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

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Expat Community > Philippines

Last Will/Testament

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