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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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...

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...

Important Role in a Testamentary Trust – Protector

In the realm of estate planning, testamentary trusts serve as powerful tools to ensure the smooth transfer of assets to minor beneficiaries according to the wishes and arrangement of the settlor. In Malaysia, testamentary trusts provide individuals with the flexibility and control they desire over the distribution of their assets. To ensure a testamentary trust...