Plan to get my Pengisytiharaan Amanah done before month end.

Went through the form, got some questions. Hope that those who have done it already can help me.

AA
For the beneficiaries, only need to state the names in the form? No need for Mykad copies, birth certificates etc?

BB
For kids below 18 yrs old, says need a guardian. Just state the name of the guardian? Or need some additional paper work?

CC
Any other useful infor I should know before going to avoid going there multiple times.

Thanks.

Learnt that the ASNB seminar in my town has been postponed.

Guess they are cutting costs now. But why do that when they are about to have the seminar now? Ha.

Things getting a bit stormy now in ASNB wrt revenue?

Went to ASNB office for the Pengisytiharan Amanah thing.

Beside the registration fee of RM100 and the annual fee of RM10, surprised/shocked to learn that there is a will execution/withdrawal fee. See below. Maybe someone here has already mentioned that but my eyes and brain were not in sync then. Ha.



As an example, for RM0.5 million, fee of RM3875. What do we gain from this registration and paying the RM3875 fee? Is it worth it?

Beside getting the money distributed as per the instruction (with new ASX accounts if nominees do not have ASX) and settled within 21 days, I do not really see the need to have this done now. The lady there said with "dispatch letter" from the resident office (hope I remember correctly the document name here), the money will be transferred to the spouse within 6 weeks.

So, what are the other real drivers/benefits for having this will thing? Maybe I have overlooked something very important here. Please share/help.

Thanks.

Will covers many assets while this is just ASNB funds. So will cost is more worthwhile to me.

EPF has this beneficiary thing too and with no charge. I have made some changes recently and also no charge. Bagus! Ha.

On first look, yes, good that they transfer the money in ASNB units to the beneficiaries. With that line of thinking then, the money will stay in ASNB from 1 generation to next, to the next, to the next next ... Ha.

But how good will ASNB's performance be in 10, 20, 30, 40, 50 yrs time?

My family may have a better investment vehicle than ASNB by then. Hope so.

Still thinking, still trying to decide .......

100% agreed Sifu on the estate planning. When compared with EPF, the additional high costs are clouding my mind with "no, no, no ..." Ha.

When I go, my wife can still get the money with the resident office's letter. 6 weeks later vs 3 weeks does not matter for us.

The other factor to consider (automatic transfer to their ASNB's ac) will be the deciding factor for me.

Sarawak is big and is split into divisions. Each division has its own Residence (maybe like a division governor).

For states in W Msia, you may have something by a different name. Ask ASNB office on what to without the will.

Sorry, dont quite get it. Please clarify on the 1000 block. Thanks.

Speaking my mind here, I may be totally way off.

When he was appointed as a senator and with what he said about the economy, 1MDB etc, I was not that impressed, jumping to my belief that he got the senatorship due to his political connection with you-know-who.

Now, as the CEO of PNB, I have my worries. Some behind the scene investments of similar nature to 1MXX? Easier when the top guy is your man, right?

If he quitted the senatorship due to 1MXX, my respect to him.

Cheerio.

P/S On his job as an Uber taxi driver, saw the TV show where he said that was supposed to be private for a friend (fun, joke?) and it became public. I doubt he needs that money.