Knowledge you should grab

This blog is to help you gain more knowledge about estate planning and all-you-should-know when having your estate planned.
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I’m a single, divorced mom. I currently have sole custody of my 5-year-old, and my ex-spouse has weekend visitation rights. In the event of my passing, can I appoint my brother as my child’s legal guardian?

  First, allow me to explain the concept of guardianship. Guardianship is a legal concept that plays a vital role in ensuring the welfare and protection of children below 18 and who are unable to manage their own affairs in Malaysia. It is governed by the Guardianship of Infants Act 1961.   Next, let us...

The Importance of Updating Your Will

I recently received a call from our company’s estate planner. During our conversation, he informed me about an issue encountered with one of his clients. He provided a brief background of the situation: Madam Siow, aged 56, has two sons, Alan (age 26) and Eric (age 30), and was divorced two years ago. She made...

Why is Life Insurance So Important in Financial Planning?

I recently discovered an interesting conversation between our professional estate planner and Mr. Wong, a diligent accountant deeply invested in securing his family’s future. During our discussion, Mr. Wong raised a crucial question: Why is life insurance important? I realize that many of you might wonder why life insurance is important in financial planning and...

What is Surviving Clause (Commorientes Clause) in a Will?

A commorientes clause, as described in the Will, establishes that beneficiaries can only receive gifts if they survive the testator by a specified period, typically 30 days after the testator’s passing. This provision is particularly important in situations where both the testator and beneficiary pass away simultaneously, or when it’s impossible to determine the order...