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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Will my stepchildren inherit my estate?

Mr. Alan and Ms. Betty are going to get married. Ms. Betty has two children with her ex-husband, and she is currently taking care of them. Mr. Alan has come to us and ask whether these two children are entitled to inherit his estate according to Distribution Act 1958, as he currently does not intent...

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...

Does the entire EPF nomination become void if one of the beneficiaries predecease me?

The Employee’s Provident Fund (EPF) is a compulsory savings scheme for Malaysian workers, designed to ensure financial security in retirement. When an EPF member passes away, the funds are distributed to the nominees listed by the member. However, complications can arise if one of the beneficiaries predeceased the EPF member.   Question 1: Can the...