When you die, the interests you have in all your property\u2014real and movable\u2014become your estate, unless it is governed by \u201cright of survivorship,\u201d which American law recognizes.<\/p>\r\n
For example, you and your spouse may own your home with a right of survivorship. If you die, your interest in the home will automatically transfer to your surviving spouse.<\/p>\r\n
Also, the person you selected as the survivor beneficiary for a retirement account or insurance policy will receive those benefits automatically upon your death.<\/p>\r\n
You may elect a right of survivorship for bank accounts. When you pass away, the bank account balance passes automatically to the joint owner of the bank account.<\/p>\r\n
This means that any property owned with a right of survivorship will not go to your estate. The property or its benefits will go directly to the selected survivor.<\/p>\r\n","protected":false},"excerpt":{"rendered":"
What does an “estate” mean for Muslim Americans. Islamic estate planning explained.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"banner_title":"What is an \u201cestate\u201d?","banner_subtitle":"And how does my Islamic Will distribute it?","footnotes":""},"categories":[2,386,3],"tags":[421,22,329,330,120,420,414,328],"class_list":["post-46","post","type-post","status-publish","format-standard","hentry","category-general","category-islamic-estate-planning","category-last-will-and-testament","tag-does","tag-estate","tag-how-do-i-protect-my-properties","tag-how-do-i-protect-myself-when-i-die","tag-how-to-make-an-islamic-will","tag-mean","tag-what","tag-what-happens-to-my-assets-if-i-die"],"yoast_head":"\n