By the time most people talk to me about insurance, they’ve already made a decision: they’ve bought a policy, they’ve named someone as a beneficiary, and they feel relieved. Done and dusted. But here’s what I always ask: “If something happened to you tomorrow, are you confident the money will be used the way you...
As people age, one of their greatest fears is being neglected after they have distributed their wealth to their heirs. Unfortunately, many elderly individuals in Malaysia find themselves in situations where they have given away their assets but receive little to no care in return. So, how can this be prevented? Here are some practical...
Estate planning is a crucial process to ensure your loved ones are cared for and your assets are distributed according to your wishes. However, deciding between a simple will and a trust can be confusing. By answering these five questions, you can determine your specific needs and make an informed decision. Question 1: Do...
When you purchase life insurance, ensuring that your loved ones receive the payout as intended is critical. However, the smooth distribution of the payout depends on the type of nomination you choose. Let’s explore the different types of nominations and how they affect the distribution of your insurance payout. Making a Nomination in Malaysia...
The sudden passing of Taiwanese celebrity Barbie Hsu (Da S /大S) has raised important questions about inheritance and estate planning. Previously, we discussed who would gain guardianship of her children in our article: Who will become the legal guardian of the children now that Barbie Hsu has passed away? Now, let’s explore how inheritance works...
I sat down in my reading room and picked up The 7 Habits of Highly Effective People by Stephen Covey while sipping a cup of coffee. I came across an interesting philosophy from his book: a farmer kills the goose that lays golden eggs in an attempt to get all the eggs at once, ultimately...
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...
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...
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