Rockwills - Why Set Up an Insurance Trust?

A client of mine passed away leaving a sum of RM200K insurance pay out as legacy for her 3 nephews' education expenses. She appointed her brother as the trustee for the moneys.Now upon her demise, the RM200k is in the hand of her brother,the trustee.Recently one of the nephews wanted to further study a diploma course but the father is saying that it is a waste of money as he is not a 'study material' instead he is palnning to buy a house as the family is currently staying in a flat.Just magine, will the moneys been actually spend on the 3 nephews on their education? God will know.The client should appoint a corporate trustee and create an insuance trust. This will ensure her wish will come true!

Rockwills - A Will Provides Peace Of Mind

Before writng his Will, this client of mine by the name of Tan is a tempermental guy, he like to throw glasses at home when get moody. He is staying with a retarded brother in a big house together with his three nephews.Before writing his will, he is worried that one day when he is gone, his nephews will not take care of his retarded brothers and swindle his moneys.When I was asked to write a will for him, I told him that he should appoint a corporate trustee to take care of his estate and his brother's finance when he is gone.Do you know, after writing his Will, he never throw glasses and get moody anymore. This is because through a Will writen and appoint a corporate trustee, he know that he brother is well take care of and his greedy nephew will never abble to swindle or cheat his moneys and properties

Rockwills - Always get prepare for any unwelcome event

Recently, it was reported in major newspapers that a group of friends from Malaysia went to Taiwan for holiday and their hotel caught fire, all the 3 Malaysian die in the incident.

It was a sad news to everyone. The family of the deceased "got stucked" in Malaysia as all the deceased's assets were immediately frozen when the news was reported in the newspapers.

Their husbands with joint accounts faced cashflow difficulties and car can not be sold as all their asset frozen.

Back home, in their office, many of their colleauge quickly write their Wills as they do not want the same thing happen to them!.

It shows that it is important to write a Will, while we can and are sound mind, we should put on paper a Will just in case something unwelcome happen to us.

For professional advice on will please contact +6012-303 9383 /+603-7782 1993 or visit http://www.rockwillsonline.com.my/

Rockwills - Write a Will before It is Too Late!

A client of mine that I met yesterday told me that, his father passed away 2 months ago. To the surprise of the family, his younger brother (Yee) producesd a Will written by his fathers dated one month before his demise, and in the Will, the father will away 100% of his estate to his younger brother(Yee)!!!

It is impossible! the father would never made such a decision and futher more, the sister who take care of the father 24 hours a day never see any lawyer come to the house to draft the Will.

After study the Will, it is highly suspected that this Will is a forge one, the brother(Yee) could have went to the lawyer firm to prepare te Will, forged the father's signature.

Now, the rest of the family is suing the validitilyof the Will, that the father is unsound mind etc.

All these happen is just because the father never plan about the distribution of his estate, it is important that we should write a Will when able and ready, do not procastinate, write a Will before it is too late.

For advice on Will, call +6012-303 9383 or click www.rockwillsonline.com.my

Rockwills - Everyone must write a Will to protect the family

A remisier friend of my by the name of Julia said that one of her client has RM6 million worth of listed share in Bursa Malaysia, he die intastate recently. He left behind a 14 years old child. Now, with the forzen of the share, nobody including the family memeber can sell them.

In this recent financial melt down, the RM6 million has seen drouped 30% in value and it takes years before Letter of Administration can be issued to unlock the frozen shaes.

This is a reminder to everyone, whether you are rich or poor, youmust make sure there is a Will written to protect your family for any unwelcome event happen to us.

For professional advice on Will, please call +6012-303 9383 or click www.rockwillsonline.com.my

Rockwills - To many beneficiaries to a house

A client I met yesterday said that her husband did not write a Will. He passed away recently. Now, under the Distribution Act, the 50% of the undivided share of the house that the husband own will be divided into the following manner:

1/4 of it goes to his surviving spouse
1/4 of it goes to his surviving mother
1/2 of it goes to his two surviving children in equal shares.

Understand that the mother-in-law is 'not in a very friendly' relationship with the client, thus, she might or might not write a will and will her undivided share to her grandchildren (the daughters of the deceased). More complication will arises if she die without a will in the future as the deceased has a large family, more than 8 sibilings.

The deceased can avoid all these uncertainty with a will.

A Will must be 100% valid under the Law

A client I met yesterday told me that a friend of his has written a Will through a lawyer many years ago. This friend of his has passed away few months ago. The family realised that there is only one beneficiary named in the Will and she has passed away few years ago. As there is no substitute beneficiary named in the Will, now, the distribution now has to follow the Distribution Act.

The family was very upset that the testator was not advised properly as his wife was quiet old (70+) when the testator wrote his Will, the lawyer should have advised him to include substitute beneficiary.

Thus, it is vey mportant that there are substitute beneficiary and executor named in a Will. This ensure the Will is 100% valid underthe law.

To find out more about will, please call +6012-3o3 9383, +603-7783 0833 or clickwww.rockwillsonline.com.my.