A lot of us take loans to buy houses, cars, or invest in something, right? It’s normal because loans help us grow our assets faster. But here’s the thing—many people only think about passing their assets to their family and forget about the debts that come with them. If you don’t plan properly, this could...
Mr. Lim, a retiree, recently decided to draft a will to ensure his assets are distributed according to his wishes. He appointed his trusted friend, Mr. Tan, as the executor of his will and asked his neighbour, Mrs. Lee, and his niece, Emily, to act as witnesses. However, Mr. Lim is unsure whether it’s necessary...
A client recently asked us, “My father recently recorded a video outlining how he wishes to distribute his estate among the family. Can this video be recognized as a valid will?” In today’s digital era, such questions have become increasingly common. However, estate distribution involves more than expressing personal wishes—it must adhere to legal requirements....
What Is a Residuary Clause? Residuary clause is a clause in a Will that allows the testator to dispose of the remaining assets under the estate that are not specifically provided for in the Will. It ensures these “leftover” assets are distributed according to the testator’s wishes. While drafting a will may seem straightforward, many...
In The Last Dance, the father’s final message serves as a beautiful reminder of the power of love, expressed through words. Whether in film or real life, terms of endearment act as bridges that connect hearts, heal wounds, and celebrate the unbreakable bonds of family and friendship. What Are Terms of Endearment? In simple...
Can you imagine one day becoming a director of a private limited company (Sdn. Bhd.) with your business partner? You hold 60% of the shares in the company, while your partner holds 40%. Now, you’re thinking of preparing an exit plan because you want the company to continue running smoothly without you. You’re considering leaving...
Have you ever wondered if an adult child is eligible to act as a witness to their parent’s will? Consider this scenario: a mother prepares a will giving all assets to her son and asked her 20-year-old daughter to sign as a witness. Since the daughter is neither a beneficiary nor entitled to any...
Planning for your family’s financial future is more than just naming nominees in your insurance policy. It’s about ensuring the funds are managed wisely, especially during uncertain circumstances. An insurance trust provides that safety net. How Does an Insurance Trust Work? An insurance trust is to appoint a trustee to manage the payout from...
One of my relatives, Sara, is a retiree, aged 62 and single. During our conversation, she shared that she has approximately RM100,000 in cash and a condominium worth RM700,000. She also spends RM2,500 a month on living expenses, which includes paying for two life insurance policies (covering critical illness and life insurance) with a combined...
Thinking about the future can feel overwhelming, but planning ahead is one of the best ways to protect your loved ones and secure their financial well-being. Trusts are an incredibly versatile tool to help manage and distribute your wealth, safeguard your children’s inheritance, and make sure that your assets are used responsibly. In Malaysia, there...
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