Practice question
The representing grandchildren also received a separate qualifying PHP100,000 lifetime gift directly from the grandparent. No dispensation or competing issue applies. They say 1064 concerns only their parent’s gift and excludes their own. Which is correct?
- Every direct grandchild gift is automatically ignored in representation.
- The article also requires the specified direct receipts, so both applicable amounts must be accounted for.
- Only the larger of the two amounts can ever matter.
- The grandchildren may select any preferred account.
- The direct gift cancels the represented-parent gift by definition.
Legal references
- Civil Code Articles991,997-1001,1016-1023,1026-1035,1050 and1063-1072: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
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