Olivia Yanson disinherits her 4 children
I recently stumbled upon an intriguing piece from Panay News regarding the Yanson family, founders of the Philippines’ largest bus company, Vallacar Transit Inc. Olivia Yanson, the family's matriarch, recently had her Last Will and testament validated by a regional trial court in Bacolod City. Despite the opposition from four of her children (known collectively as the Yanson 4), the court declared the Will's probate, as it fulfilled all legal formalities.
In this Will, Olivia designated two of her children, Leo Rey and Ginnette, as the universal heirs to her estate. Her other children, Roy, Emily, Ma. Lourdes Celina, and Ricardo Jr., contested the probate, alleging undue influence from the named heirs. However, the court found no evidence to support their claims.
My two cents? It's a solemn reminder that family disputes can arise, especially in the absence of a clear legal framework. The court's decision, emphasizing the extrinsic validity of the Will, showcases the importance of having a legally sound and unambiguous last testament.
On that note, let me stress the significance of creating a Last Will. A Will ensures that your assets are distributed per your wishes, provides clarity to your loved ones during tough times and can prevent potential legal battles. It's an essential aspect of financial planning, ensuring that one's legacy is protected and passed on appropriately.
For a deeper dive into the Yanson family's story, check out the original article here.
