I would say so since you've worked hard to earn your money why skimp on the distribution of it.

I wun skimp on it & i stil researching whether to use rockwills, wun go for arb or lawyers
but wat abt uob trustee? any one with real practical experience dealing with rockwill / uob when time to distribute asset

This post has been edited by sulifeisgreat: Mar 10 2010, 06:18 PM

My family in laws will is with Public trustee. They send updated forms on an annual basis to see whether or not there's any asset updates.

It was free for them as they are Mutual Gold customers.

My will was done with OSK Trustees and a few friends of mine have got it done with either OSK Trustees or Rockwills. Some family members have got it done with their lawyers.

How much is the fee for will writing.. any rough guide?

thanx for the tips

About RM350 for a start. It charged by clause. Each clause about RM100. The more clause you add, the more you pay. A simple will cost less than RM1K

a cheaper alternative would be to go thru Public trustee - PBTSB (if you have public mutual trust agent to contact, he/she can help you on this..). A simple standard Will cost less than RM500 - with free life time Custodyand. And if you are a PBbank platinum card holder or Pbank REd Cardpet customer, you are entitle to 50% discount...

Mutual Gold member also get to do it for FREE. Just invest 100k to become 'gold' ... I think ...

I have some questions. I'm new here, please forgive. To write a will, for example, my father consults a lawyer and made an appointment to sign the agreement. He and i, i'm still a minor, go to the appointed date.

He signed it and off he go. Again, i'm a minor and i know nothing.

Question:

1. What if that lawyer 'abuse' or 'modify' the agreement before the signing, for his/her benefits purposes? And my father couldn't read English.

2. What if that lawyer, 'gone' or liquidated? Who will later manages my father's will?

well..your father should at least keep a copy of the Will himself...get someone to translate and explain to him..

As to who will be managing your father's Will.. You will have to check in the Will who is assigned as the Will Executor, is it the lawyer? There is an article in the Personal Money last month (I think), mentioning that Executor assigned cannot simply withdraw himself/herself from the responsibility...one has to get a court consent, to bring in a substitude Executor for example, in order to withdraw.. Rationale is , if the Estate is left without an executor it will be going into a state of limbo which the court will not allow...

1. You can read English. You just check what it is written. Make sure you check the original will.

2. If lawyer gone, no problem. Just appoint another one. Most important is the Executor. I hope it is not the lawyer.

Some additional question you may want to check

1. Who is the witnesses?

2. Where the original will is being kept?

Normally any beneficiary who are NOT the kin/legacy of your father would raise suspicious and if indeed found out the lawyer will face penalty so big that he can only be a con man for the rest of his life. So unless its once of life time 'lubang' like 12 millions and above, its unlikely the lawyer will do such thing ... if he is a real lawyer to start with ...

A prevention method is to find another lawyer to analyse the 'health' of your will. Or just find someone he trusts ( not whom you trust ) to translate for him.

Actually, if there is no will, and the combined estate is less than RM600,000, you could always go for a Pusaka Kecil hearing. The estate must be a mix of harta alih (savings, ASN) and harta tak alih (land,house)

Costs about RM20, +RM2.00 for every copy of the order. Apply at the Unit Pembahagian Harta Pusaka and your nearest Pejabat Tanah.

However, once there is a will, gonna have to go to High Court.

hi all,

i hv a lawyer fren who writes wills.

if any of u have any questions/need any advice or is interested to write one, u can PM me =)

hmph....I've not thought of this matter. Should consult my lawyer on this. Good thread.

If you have a large assets and running own business, it is advisable to consult financial planning company.

If go to lawyer or will writing company, they can only write what you want to put on the will but may not able to give advice on estate distribution especially if you own companies as this may involve taxation, accounting etc..You may even want to consider setting up a trust.

It is still advisable to seek professional will writer as they can advise you on the clause and explain on how the will is going to be executed. Not to mention, a lot helps you execute and safe keep the will, which lawyer doesn't really do that.

Dear all,

I'm a will writer for Rockwill..anyone hv question related to will pls ask me here..i will be happy to answer all of ur question

As posted by everyone here..anyone who didnt write a will..after the person pass away, the law will write for u..malaysia hv a law call distribution act 1958

lets say u and spouse hv a joint name under the house, if anything happen to ur spouse, the house could be distribute to u (1/4), parent (1/4) and children (1/2)..and if anything happen to ur parent, AGAIN it will distribute among brothers and sisters

if no will is written, u must get a letter of administration which can take long time and high cost too

here i want to emphasis that nobody is too young to make a Will. In fact, a Will has nothing to do with age or death, but to protect your loved one when you are no longer around. One is never too young, It can only be too late.


statistic shown that 7 out of 10 ppl die without write a will..this create havoc to their family members who they want to them to benefit from asset. many ppl think that their asset automatic go to their spouse or family after they pass away,but this is not TRUE..as i mention, law of distribution will act for u if u didnt write a will


Best Regards
Alan

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Added on September 4, 2010, 10:37 pmWhat are the benefits of writing a Will?
The benefits are as follow :

1) It ensures the future of your loved ones are secure

2) It ensures the assets of your estate are distributed to the beneficiaries of your choice in the manner that you want

3) In the event where your beneficiaries are minors i.e. children below the age of 18 years, the appointment of a trusted Guardian in your stated Will, ensures that their welfare will be taken care

4) The Executor of your Will ensures the terms of your Will are executed accordingly. Rockwills have the Trustee licence to execute on behalf of testator thus taking away the hassle of running around for beneficiaries and ensuring beneficiaries interest are taken care of.
5)

It is a legal document that is recognised by the Courts, thus, reducing unnecessary legal battles & legal costs. Rockwills unique and comprehensive service would ensure that client’s will would take into account possible situations that may arise and would provide the necessary advice to minimize the probability of the will from being contested.

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Added on September 4, 2010, 10:48 pmHere is another story why we should appoint a professional will writer

My father wrote and kept his own Will long ago. After he passed away, it took us tedious time to locate his Will because none of us or even mom knew where he kept it. Due to time constraints by the Court, we almost ransack the whole house. Finally the Will was found in a narrow slit between his old cabinet that was infested by termites. Thank God! the Will was safe.

Submitted it to the Court just at the brink of time, we were told that the Will was incomplete due to no appointment of Executors. We are to file a petition for Letters of Administration with Will Annexed. Not too sure what it is or how to go about it, so we decided to get help from a lawyer. Even with the help, the process of the will toke for 4 years and found out that yet another problem occurred…we are to locate the witnesses who had co signed my father’s will. It was a long and tedious task to locate them. It took us yet another 1 1/2 years just to find out that the witnesses can not be located. Due to the long delay and the hassles of attaining the estate even though my father wrote his own will, it took us 6 1/2 years to settle the process and we were charged with a lot of legal fees due to the long process.

We do not suggest that you write your own Will because we have seen so many such DIY Wills with common omission like Will not dated, not having substitute executors, no substitute beneficiaries, guardians not named as well as other crucial details left out. Such Wills would either be invalid or do a partial job and would create problems for the beneficiaries.

This post has been edited by alexcky: Sep 4 2010, 10:48 PM

Mind to share how much to pay to start? Is there an annual renewal fee? How much do I need to pay for revise? Thanks