By Yasser Latif Hamdani
(This information applies only to the US)
Through your will and testament you cannot dispose off the following:
1. Life Insurance Benefits
2. Pensions
3. US Government Savings Bonds
4. Jointly owned property with the right of survivorship.
5. Exempt property which by law go to your widow/widower and children.
6. Property you expect to inherit but do not inherit before your death.
7. Life tenancy for a house or an accommodation.
8. Income from a trust fund.
An exception to the rule governing the proceeds of a life insurance policy occurs when you name your estate as a beneficiary (one of the many reasons you ought to consult a real estate lawyer).
(This information applies only to the US)
Through your will and testament you cannot dispose off the following:
1. Life Insurance Benefits
2. Pensions
3. US Government Savings Bonds
4. Jointly owned property with the right of survivorship.
5. Exempt property which by law go to your widow/widower and children.
6. Property you expect to inherit but do not inherit before your death.
7. Life tenancy for a house or an accommodation.
8. Income from a trust fund.
An exception to the rule governing the proceeds of a life insurance policy occurs when you name your estate as a beneficiary (one of the many reasons you ought to consult a real estate lawyer).
This caught kaka's eye..
ReplyDeleteGenerally speaking, if you set up an estate as a beneficiary, everything you want to bequeath can 'flow' through it to the persons you desire.
BTW, estate planning has nothing to do with a 'real estate' lawyer as the advice above recommends. Dunno about Lahore, but this is how it is in most US states.
-kaka