QUOTE(cybpsych @ Aug 28 2017, 06:57 PM)
recently my parents asked about this...
if my parents now at old age have savings/investment in ASW/ASM, what happened if they passed away?
1) do we need to declare nominations to PNB, similar to EPF?
2) or it is automatic transfer to next-of-kin, i.e. children?
3) what does the children have to do or options, assuming (1) and (2) not available?
Can opt to do declaration "Pengistiharan Amanah" at PNB office, then it's automatic transfer to next of kin...with some charges of course.if my parents now at old age have savings/investment in ASW/ASM, what happened if they passed away?
1) do we need to declare nominations to PNB, similar to EPF?
2) or it is automatic transfer to next-of-kin, i.e. children?
3) what does the children have to do or options, assuming (1) and (2) not available?
No automatic transfer to next of kin. Maybe through will, but need to sell off all units and redistribute.
The choice is yours
This post has been edited by OPT: Aug 28 2017, 07:17 PM
Aug 28 2017, 07:16 PM

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