Ensure smooth transfer of assets

To ensure that the nominee becomes the account's beneficial owner in the absence of a Will would require laws to be changed

Did you know that you can’t have more than one nominee for a bank account?

Did you know that on the account holder’s death, even this nominee can only hold the money in trust for the legal heirs, as determined by the Will, and if there is no Will, then by the personal succession laws governing the deceased?

Did you know that if the nominee in a life insurance policy is a parent, spouse or child, and there is no Will, then she/he can inherit the amount beneficially without being accountable to the other legal heirs determined under personal succession law?

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