Testamentary Disposition

Definition of "Testamentary disposition"

Dora Ortiz
  Waterfront Realty Group Inc.

Disposition or transfer of property at time of death. Although the law provides that property may be transferred at death only by means of a will that meets the requirements of state statutes, life insurance proceeds are exempt from this requirement. They pass to the stated beneficiary without regard to the state requirements for wills.

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