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  1. #1
    Supporter and Investor!
    Join Date
    Apr 2007
    Location
    Dinarville, Utopia
    Posts
    239

    Warka Bank asset rights of succesion?

    Greetings,

    I wish to pose a question here for discussion that I have not seen delt with before. In light of recent sad events in Newtown, as well as a recent unexpected death in my family, the question surfaces how would we transfer ownership rights of any assets we may have in Warka, or any such overseas accounts in the event of a death? not to say this investment will ever take that long to show a return, but poop happens.

    Now locally here in the U.S. there is a progression of laws, and probate courts, if a will is not specific, and local banks have a path to solve these questions. But being Warka can be vague at times on thier proceedures, this is a valid question. I have not seen any discussion on this possibility here as of yet, and as this drags on, there is a definite need to provide proper planning, to what some might believe, could be/is a wind fall inheritance.

    so the basic question is.....

    what format, forms, or proceedures might there be in place now to provide a clear path for inheritance of these forgien assets? both in bank accounts and or stock ownerships?

    has anyone here considered this issue before, and/or already approched thier bank/broker?

    your thoughts are welcome, and open to debate here, aloha.
    E Pluribus Unum
    This note is legal tender for all debts, public and private.

  2. #2
    Supporter and Investor!
    Join Date
    Apr 2005
    Posts
    438
    I have my sister as my benficiary. It was done several years ago. Warka has the info somewhere. Had to fill out and send a scan of sisters drivers liscense. When I go into my online account it says both of our names and addresses. But back then Warka was very responsive and Mr. I always helped. If I died now, who knows when my sister would get an answer. I can't even get a spreadsheet now, so we wait and see what happens.

  3. #3
    Supporter and Investor!
    Join Date
    Dec 2007
    Location
    Alabama
    Posts
    2,816
    I would not worry about this at this time. In all probability Warka will be merged into another bank.After all,Warka holds most of the foreign accounts in Iraq,and I don't believe they want to allow anything negative to these accounts.IMHO

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