What happens to the benefits when one of the beneficiaries passes on? – Goalsmapper Helpdesk

On GM Legacy, we provide several options, such as the benefits that the deceased beneficiary is supposed to receive are given to the surviving beneficiaries or the biological children of the deceased, etc.

Beneficiary Distribution in GM Legacy

Scenario

WITHOUT Substitute Beneficiary(ies)

WITH Substitute Beneficiary(ies)

Only 1 Main Beneficiary

If the main beneficiary does not survive, their share is distributed as below.

✅ Option to distribute:

Form part of the main beneficiary’s estate (Following the beneficiary’s Will or the Statutory Law)
To main beneficiary’s surviving children*

⚠️ If the main beneficiary does not survive, the substitute beneficiary(ies) will receive the benefit as per below.

✅ Option to distribute:

Form part of the substitute beneficiary’s estate (Following the beneficiary’s Will or the Statutory Law)
Proportionally among surviving substitutes
To that substitute’s surviving children*

2 or more Main Beneficiaries

If any main beneficiary does not survive, their share is distributed as per below.

✅ Option to distribute:

Form part of the main beneficiary’s estate (Following the beneficiary’s Will or the Statutory Law)
Proportionally among surviving main beneficiaries
To that deceased main beneficiary’s surviving children*

⚠️ If any main beneficiary does not survive, their share is distributed as per below.

✅ Proportionally among surviving substitute beneficiaries

❌ No option to distribute to deceased substitute beneficiary’s surviving children (This is considered a complex Will)

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⚠️ If ALL main beneficiaries do not survive, the substitute beneficiary(ies) will receive the benefit as per below.

✅ Option to distribute:

Proportionally among surviving substitutes
To that substitute’s surviving children*

NOTE: *Note that the portion for the beneficiary who died leaving no children shall be given to the other surviving beneficiaries named proportionately. If there is only one beneficiary, then the benefit he/she would have received shall form part of his/her own estate.

Please contact us at legacy@goalsmapper.com for more information.

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Beneficiary Distribution in GM Legacy

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