Let's just say do it before the death cert is out - then it be legal, hahaha

I know of cases where people pre-sign their sole-proprietor company cheques, so in the event of an unforeseen circumstances, money can be withdrawn from their current account. Of course date the cheque earlier lah, then it is legal

yes UOB is statement based and so is OCBC.

This post has been edited by Gen-X: Oct 19 2013, 09:23 AM

It depends whether there is dispute or not, if there is significant sum involved, and many family members dispute on the estate issue, then you have a case.
Technically, once a person is dead, any account associated with the person should be frozen.

So far most foreign banks are statement based.
It is more convenience, and less troublesome, and safe. (As one is getting statement monthly basic, everything is summarised into a paper, whatever done on the FD account is clearly showed), even joint account holder (be it husband or wife), who poses the cert, want to "curi-curi" withdraw without other party knowing also being exposed.

Also, imagine, have multiple FD cert, old time, memory not good, forget where the cert being placed.

I concur with you. Statement based better as we are reminded about our FDs. As for spouse/partner catching us red-handed curi curi go withdraw the FD, I got solution - everyday wait for postman to come and intercept the letter/statement, after few months partner also will forget got FD, hahaha

How about have the mailing address changed ? No need to wait for the statement to come.

hahaha, yah get like a PO Box. You solved my problem, now can go relax with you know what dolls instead of waiting for the postman

This post has been edited by Gen-X: Oct 19 2013, 05:28 PM

Can even put address as where the d is staying ..................

Come, come, lets go for some relaxation & enjoyment !

This post has been edited by bbgoat: Oct 19 2013, 06:53 PM

For security reasons, not a good idea to put address where another 3rd or 4th party may come across your FD statement(s)

Come to think of it, should not even let our children know how much we got in FD, so that they never know how much of their inheritance we burn away, hahaha. And one more thing, I have mentioned before in my Ringgit Wise Fool blog, also not to transfer all assets (especially cash in FD) to the children even when we think we are going to die (or even if the Doctor said so) just in case god last minute decides to give us second or third chance to continue living This is to ensure they continue taking care of us

In regards to soulmad question how long got to wait to get the cash after senior dies, well, in my opinion, the longer the better so that they continue mourning instead of immediately happily go spend senior's FD away, haha

This post has been edited by Gen-X: Oct 19 2013, 08:49 PM

i can imagine if family members do not know how much, where and how i save the money, they would be very much inconvenienced and may even lose out financially leaving the money lying idle.

Only the bankers would be the one happy, the longer you do not claim your money the more happy they are. Unit trusts that make money are kep till losing, would be the worse thing.

I trust my family members 100%, so all of them are regularly reminded where and how i keep the savings. I gave them my PW to my system.

I wonder how many does what i do. Whenever the whole family fly together, i even inform my mother where to find the list of savings i keep.

Kids asking how much we have, no problem. How much i earn, no problem, tell. The more you earn the more you should let your kid know to encourage them to work harder. The same goes for my insurance policy etc, some say if you tell, they might kill you off to get the money faster..........not in our family i think.










This post has been edited by guy3288: Oct 19 2013, 09:42 PM

Well said.

If this happened it also means that you have failed to bring up your kids, might as well.

It's depends, not all family can follow your style. Actually you're lucky, I think

some...given...more than can earn...end up.....negative saving.

my summary never trust anyone handle our own financial

This post has been edited by felixmask: Oct 20 2013, 12:14 PM

I agree. My money My decision

If any of your family members get addicted from DRUGS or GAMBLING, you should be careful ~~

Another plus point is to avoid the doll waiting for the postman..

hahaha, bro, when I first read, I interpreted as - if no doll thingy then no need to waste time waiting for postman to intercept the FD Statements. To this my reply is - it's bbgoat's and magika's postings here about how relaxing and pleasurable they get playing doll(s) that got me curious. Better I start exploring the doll thingy before I go completely blind and regret I miss it, hahaha

Then after rereading it, I interpreted as - maybe we would eventually prefer to wait for the postman to collect our FD certs instead of being with the doll than turned into a pesky pest demanding this and that, hahaha

I get your moral of the story - avoid doll(s)

This post has been edited by Gen-X: Oct 20 2013, 02:47 PM

I won't let kids know how much money I have, otherwise they will not work hard.
The most important thing is we cannot tell who really treats us well if they know we have money.

I believe usually poor men have more real good friends than rich men.

It is very important for everybody to prepare for a will, except for Muslims.
I heard if based on Muslim's rules, when a Muslim passes away, 50% of his/her assets will go to his brothers (not sure if
this includes sisters), then 50% will go to his sons and daughters. I guess this is one of the reason most Muslims do not
save much money.

I have a relative passed away without a will prepared, and none of his family members knew where he kept the money.
For me, I do not want to see this happens to my family members.

It is also quite sad if we do not have any family members that we can trust; but in reality when talking about money, we
really cannot trust anybody.

I heard unclaimed money in long period will send to Bank Negara.

This happened to my friend who comes from a very rich family.

Never ever trust dolls.. never give them your real name, hand phone number (if they get caught by police, dolls may call you for help, and police may call you for investigation ) , and address.

hey relax lah. TGIWeekend, people just want to unwind/distress.

I kind of agree, from my observation, rich people don't have many "real and close" friends. Like the saying goes - it's lonely at the top. They have many associates thru their networking tho, to make them more money, haha.

+1. The people who inherits our assets do not need to know our net worth until we die With a will, all is taken care off and no in fighting among family members (or maybe the probability is less, they still can contest the will).

Thank you for your advice, I think I will go get a prepaid mobile number....

arrr I am stress out with boredom... any other more pleasurable ways to unwind and distress besides dolls?


Okay, it was mentioned that SCB offering 3.5% for 6 months minimum fresh fund RM5K. Interest is to be credited in a savings account. One of the odd thing about the T&C is that it states that upon maturity it will be renewed for another 6 months at prevailing interest rate unless we write in. Other banks we can instruct the bank what to do verbally at the time of deposit.

Ha ha, I prepare a will together with a list of my assets including foreign brokerage accounts so that in case of my unforeseen departure, all is not lost.