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Testamentary Disposition

Last updated: December 3, 2017

What Does Testamentary Disposition Mean?

Testamentary disposition refers to the transfer or disposition of a property that becomes effective only upon the transferer's or testator's death. The giver of the property continues to exercise total control of the property while still alive.

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Insuranceopedia Explains Testamentary Disposition

Testamentary disposition may be made through a will or a inter vivos donation. A life insurance policy may be considered a testamentary disposition when the proceeds payable upon the policyholder's death are arranged under the settlement options.

Testamentary disposition also refers to the execution of a dead person's statement in his last will and testament specifying the partitioning of his assets upon his death among the persons whose names he would mention in the document.

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