Inheritance with 1 child

D

djdaveq

Guest
I am an american, i own a property in DR all paid for. My only son was born in DR and is an american and a domican citizen but he is still a baby. his mother is only a dominican citizen lives with me but we are not married.

if something was to happen to me i want my son to get everything.

my question is if i bite the dust will my son get everything by law automatically?

do i need to make a will if i want he get everything?

is there a transfer tax he would have to pay? based on what the last purchase price of the property?

can i just transfer my property to him while im still alive at anytime or when he reaches a certain age? what age?

what about a vehicle?
 
F

Fabio J. Guzman

Guest
Your son will get everything if he is your only child, meaning you won't need a will. Inheritance taxes are 3% of the value of the estate as appraised by the tax authorities. Gift taxes are 27 %.
 
I

irishpaddy

Guest
why not make a will and have your wishes stated clearly for all to see
 
C

chico bill

Guest
Are you suspecting something ? Get a house maid that is a food sampler too
 
R

Ricardo900

Guest
Is it safe to assume that if the child is under 18 years of age? The mother will have sole control of the inheritance.
 
F

Fabio J. Guzman

Guest
If the child is under 18, the mother, under the supervision of the "Consejo de Familia" (Family Council) will control the inheritance.
 
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