DECEASED UNIT HOLDER
| Q | What happens to the Unit Trust account when a unit holder dies? |
|---|---|
| A | A1 - Deceased (joint account)
In the case of death of any unit holder of a joint account, the survivor or survivors will be the only person (s) recognized by the Manager and the Trustee as having any title to or interest in such units. Where a sole surviving Joint holder or all the surviving Joint holders is or are under the age of eighteen (18) years, the Manager and the Trustee shall recognize only the estate or estates of the deceased Joint holder or Joint holders as having any title, right or interest to and in the Units held. A2 - Deceased (individual account) The executors or administrators of a deceased unit holder (not being one of several Joint Holder(s)) shall be the only person recognized by the Manager and the Trustee as having any title to such units. Upon the death, bankruptcy or insanity of a Unit Holder or the occurrence of anything which renders a Unit Holder legally incapable of holding any units, any person becoming entitled to the Units held by the Unit Holder may apply to the Manager to be registered as the Unit Holder in place of the Unit Holder in question provided always that such person is not under the age of eighteen (18) years. |
| Q | What are the necessary documents to be submitted in order to claim the deceased units? |
| A | A1 - Transfer upon Death (individual account)
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| Q | Are there any fees involved? |
| A | Yes, administration fee not exceeding RM 25.00 and other fees (if any) and upon payment of such fee, the Manager shall register such document. |