We have all had ex-pat friends die here and have heard tales of woe from their wives, girlfriends and families. This posting attempts to explain what happens after you are gone so you can plan ahead to avoid and reduce the pit falls those you leave behind will experience. The old navy adage, "loose lips sink ships" may apply here. A. Pay the Hospital and Obtain the Death Certificate B. Notifying the Embassy The embassy has to be notified of your death. There are a lot of expenses to be paid so you need to arrange your financials so your next of kin will have money to pay them. Death of a U.S. Citizen | U.S. Embassy in the Philippines It may take several days or weeks to receive authorization from the embassy to allow the funeral home or crematorium to dispose of your body and there is generally a storage fee while waiting on this authorization. If you have children or relatives in the States, make a list to assist the embassy in contacting them perhaps to speed things up. Your filipina wife may need to show your marriage license to prove her standing in your affairs when dealing with different agencies. C. Local Banking Arrangement and Withdrawal Central Bank regulations require banks to freeze single and joint accounts when a depositor dies and the person withdrawing on those accounts casually or unintentionally says that you have died. The accounts are frozen until BIR notifies them taxes have been paid by that estate. If you have single accounts or local investments, it is likely that money will never find its way to your next of kin when they need it. With FATCA the U.S. IRS may have an interest in your bank accounts also. SGV & Co. Philippines | Ernst & Young | Accounting Firm Joint bank accounts D. You may have lots of stuff but your Filipina wife owns it. Inheriting can be tough without a will and take time and money. Inheritance tax and law shakey
I was told by a local bank manager that if you have a notarized last will and testament banks will not freeze your joint accounts if you die. I had mine made and notarized at the Dumaguete city hall legal office, which my bank accepted a copy. Note: not enough assets left to worry about a hit on me. Lol.
I'll be telling my family to just let the hospital to keep my body. I'm dead, I promise I won't care. Let my rotting corpse be the hospital's problem.
