Appointing a guardian in your will is essential, but have you thought about how they’ll manage the costs of raising your child? While many people are willing to step in as guardians, raising children is expensive, and without proper financial support, even the most capable guardian might struggle. So, how can you ensure your chosen...
When assisting clients with their estate planning, we first study the client’s background, assets, and liabilities in detail. I recently met a client who is a successful businessman and investor. He has built a portfolio consisting of stocks, cryptocurrencies, and properties worth over RM3 million, plus RM500,000 in cash. Despite accumulating such personal wealth, he...
Myth 1: “If you don’t name any beneficiaries in your EPF accounts, your family members won’t be able to access the funds.” Many people believe that if they fail to name a beneficiary for their EPF (Employee Provident Fund) account, their family members won’t be able to access the funds. Truth: In the event of...
The Hidden Dangers of Self-Storage Most people think that once a will is signed, they can safely store it at home or in a private, secure area. Unfortunately, there are a several hazards associated with this that are often overlooked: Misplacement or Loss: Wills can easily be lost or misplaced, especially if they are...
Question: Hi, I’m divorced and living in my condominium in Puchong with my 3-year-old child. I work in Singapore and travel back to Malaysia twice a month. My sister takes care of my child while I’m away, as my ex-husband does not provide any care. If I pass away, how can I...
Mr. Lim recently lost his father, who left behind an outstanding housing loan of RM500,000. As the sole beneficiary named in the will, Mr. Lim is worried. He wonders, “Will I have to take over my father’s housing loan? Can the bank continue charging interest on the outstanding amount after my father’s death?” These are...
Question: “My husband has passed away recently, and we did not write a Will before. We have no children. My husband has some savings, investments, and one property which is under his own name.” Answer: In this scenario, your husband is said to have died intestate. His estate will be distributed according...
Mr. Lim is married to Amy but is secretly involved in an affair with Bella. He wishes to leave some of his assets to Amy, his wife, and other assets to Bella, his mistress. Mr. Lim asks if it’s possible to write two separate wills—one for Amy and another for Bella—without either knowing about the...
Ensuring that your wishes are followed and your loved ones are protected requires estate planning, which is more than just a task to cross off a list. In an earlier article, we discussed some of the most important elements of estate planning and dispelled a few widespread misconceptions. However, it’s important to remember that many...
When it comes to estate planning, the topic of writing a will is often clouded by misconceptions and confusion. Have you ever wondered if those assumptions are true? Many people put off creating a will due to common myths, which can lead to unintended and serious consequences. In this article, we will explore these myths,...
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