Past Activity [2015]
2015 已过活动项目
KLASS Helpline 爱滋热线
(Wed to Sat) (周三至周六)
1) Clear all your doubts on the misconceptions of Will-writing
2) Understand the benefits of writing a Will & importance of a valid Will
3) Understand how the “Distribution Act 1958” affects your family
4) How to safeguard your legacy
5) Understand the legal process of Estate Administration
6) Understand the difference between Will & Trust in estate planning 

Some of the Q&A:

When I pass away, can my family go to court and challenge the decision?
A: your partner can inherit your wealth. Provided you have legalized will, it will take effect lawfully.

Q: If my inherit is less than 18 years old, do I need to name a guardian? What if I don't have name any trust? Does the law enforce I need a guardian?
A: name an executor to help me run the will after I pass on.

Q: How should we write our will? E.g. All my properties given to my nieces and nephews? Or I need to name by which property and given to who?
A: we need to discuss with will company to write our will terms and conditions.

Q: What is the cost of the trust fee? Is there any yearly fee?
A: 0.75% of our property gross value. Writing a will also get charged a nominal fee.

Q: Testamentary Trust - can I say my partner will stay until he dies then only my nephew and nieces will inherit those properties?
A: yes we can.

Q: If we marry in oversea, I believe the oversea marriage doesn't prove that our partner is our legal spouse?
A: same sex marriage oversea doesn't prove to be legal in Malaysia. So they can't be legal in Malaysia to prove that he/she is my spouse.

Q: What happen in the will, u name a property given to someone but we have yet to settle our mortgage? What to do with the property? Who is going to pay off the debt?
A: yes it is still a liability. The executor/ bank will need to dispose your properties before the beneficiaries can inherit whatever fund you have.

Q: In terms of money, how can our inherit know how much we have in banks, investment, insurance and all money instrument? How do they inherit the money?
A: appoint an executor. You may not need to tell him all the details of your monies but the executor can help you trace back all the monies and pass on to your beneficiaries.

Q: Executor role? Do they get paid? What happen if executor also die? How can the law make sure the will is carried out properly?
A: name a few executors but only one active executor at a time.

Q: Can I write my will in such that I will give the money to old folks home and they are going to take care when I m old and whatever balance will be donated to the charity?
A: we can appoint a private trust to take care of me. And then a will to pass on my wealth to beneficiaries.

Some Generic Answers from Rockwill:
Witness - cannot be your spouse or next of kin.
5% of the total gross value is entitled to my executor.
We should also name few executor but only one executor do the task at a time.
Executor - has to be above 21 years old.
A legal will is a will with 2 legal witness and enforce by law.

~ compiled by B.C.

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