Reported 12 months ago
If you want to leave your inheritance to your siblings' children after passing away and you don't have children of your own, make sure to 'transfer before death' or 'establish a will' in advance because nephews and nieces are not considered 'legal heirs'. One aunt intended to leave her nearly million-dollar inheritance to the nephew who took care of her in her later years, but due to lack of financial planning for inheritance, the entire inheritance ended up being confiscated. Planning ahead for wealth transfer is crucial to ensure non-legal heirs can inherit property or assets smoothly.
Source: YAHOO