When a person pass away, his asset become his estate.
Estate will be frozen either you hv Will or without Will.
Estate need to clear Funeral Expenses, Estate Administration Expenses, clear all debts including Income Tax or unpaid Tax, All loans from Banks, Creditors… and the residual estate can distribute to beneficiaries via Will instruction or Distribution Act.
The administration process from min 6 months to 2 years caused the estate become slow money and shrinkage!
How to maximise ur benefits? Let’s park some of ur movable asset in Fast Money Account!
It’s fast and creditor proof!
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