What Are Excluded From Gross Estate?

1. GSIS proceeds/ benefits
2. Accruals from SSS
3. Proceeds of life insurance where the beneficiary is irrevocably appointed
4. Proceeds of life insurance under a group insurance taken by employer (not taken out upon his life)
5. War damage payments
6. Transfer by way of bona fide sales
7. Transfer of property to the National Government or to any of its political subdivisions
8. Separate property of the surviving spouse
9. Merger of usufruct in the owner of the naked title
10. Properties held in trust by the decedent
11. Acquisition and/or transfer expressly declared as not taxable