I wonder if contributors here are aware of the huge taxes and costs that an estate and beneficiaries must meet here in the DR . I have recently needed to radically alter my will and start some estate planning . The taxes are 3 or 4 % on the estate, the amount depending if the beneficiaries are Dominican or not and then the beneficiaries must pay 25% on the amount of the legacy . In addition , the lawyers seek between 20 and 30 % of the value of the estate for their work .
I am taking steps to ensure that die with next to nothing in my name, just enough to cover the cremation and the wake and little more ..and definitely my beneficiaries will not need to fork out any tax.
I am taking steps to ensure that die with next to nothing in my name, just enough to cover the cremation and the wake and little more ..and definitely my beneficiaries will not need to fork out any tax.