By Edward Allen B. Acevedo (JD1 2020-2021)
If you ask an average Filipino or an average Filipino family if he wants to be financially or economically prepared in, or for the future, the typical and obvious answer would be a “YES”, but most Filipinos rarely hear and understand ESTATE PLANNING. Estate PLANNING is a word more less avoided by Low to Average income earning FILIPINOS, maybe because of the stigma that it is only for the rich or for families that owns large lands and several properties. Due to this misinformation, lack of knowledge and ignorance, low to average income Filipinos tend to fall prey to this “GET RICH QUICK SHEMES”, INVESTMENT FRAUDS AND OTHER SIMILAR SCAMS.
To supplement this STUDY with ample and sufficient DATA, this research will be composed of current information from PHILIPPINE STATISTICS AUTHORITY of the data of income brackets and population in the locality and in the whole Philippines if possible. The process will also involve ONLINE SURVEYS and Personal survey if possible. In addition will conduct online interview and personal interview if possible, from people in the industry or professionals in connection to ESTATE PLANNING, and most especially to the very people this research aims to be benefited with, the low to average income earning Filipinos.
The objective of this study is, first, to come up with enough data and statistics of income and population in the locality and if possible, the whole Philippines. Secondly, to differentiate a legitimate investment from an investment fraud, to avoid scams and to know how, where and whom to report. Lastly to provide ample guide and information about the legal and economic implications of having or lacking a proper ESTATE PLANNING, and to guide the average Filipino on HOW, WHAT, WHERE and WHOM to reach out and get personal advise to start their FINANCIAL and ESTATE PLAN.
Philippine Legal Research 