Knowing when to exit

Legacy involves not only a vast array of properties and other material possessions but also the good name and reputation we had built during our lifetime. – 123rf.com

THE pandemic, which ushered a season of death, has raised awareness especially among senior citizens in the Philippines on the matter of legacy. In recent months, our law firm has been receiving more inquiries relating to estate planning, the preparation of wills, and settlement of estate.

For some, legacy involves a vast array of properties which can include real estate holdings, jewelry, bank deposits, shares of stocks, and other material possessions, the partition and distribution of which can sometimes result in the most bitter cases we’ve ever handled, especially among siblings. But for many, the legacy they’d leave behind when they die are the good name and reputation they had built during their lifetime. This kind of legacy becomes more important when the individuals involved are public figures.