TAX MIDTERMS NOTES - Chapter 7 Net Estate and Estate Tax...

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Chapter 7Net Estate and Estate Tax: Conjugal Partnership ofGainsProperty relations of wife/hubby shall be governed:a. By marriage settlement executed before marriageb. By the provision of the Family Codec. By the local customsFuture spouses may agree on the ff. regimes:
When the regime is VOID:1. conjugal partnership of gains shall govern marriagescontracted before Aug. 3, 1988or2. absolute community on or after Aug. 3 1998Conjugal Partnership of Gains – Husband and wife place in a common fund the proceeds, fruits and income from their separate property and those acquired by either or both spouses through their effort or by chance. *Net estate subject to tax or net taxable estate is the

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