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 Have you written your WILL?

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Jean72
post May 6 2008, 04:47 PM

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QUOTE(penangmee @ Nov 11 2007, 01:54 PM)
ARB is among the cheapest but not most efficient for wrting will AND getting probate after u mati. Their chareges are fixed. Lawyers?  Charges are like squeezing the deceased asstes also not that fast.

Dividing assets b4 mati? I have heard stories of children who abandon theirs parents after getting hold of the asstes - not paying for medical bills/leaving parents alone etc.

How ever I agree that simple will should be enuf if dun hav a lot of assets but u still need will . If single to make sure govt does'nt get all your money. If married  to make sure wife/children/ parents get a portion. I have heard too many sob stories. In laws dun want to giv wife/wife dun want to giv aged parents etc . SO make sure you update your life policies/EPF when u get married/have children. FYI, I even know of a case where an ex gf/fiancee was named as beneficiary - wife was not able to claim on the policy. Policy holder didnot/forgot to change. Until today I dun think that the ex gf knew the guy was dead or even made a claim doh.gif
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GOOD topic. Was just thinking to post the same topic in my blog. Estate planning (will writing) is the essential part for financial planning.

I was talking to my insurance agent and he agrees to draft a will for me for free. Will can be done easily if we keep the content simple. But if you have material amount of assets, it is important that you consult a proper will writer like rock will.

Especially EPF. Don't just rely on your nomination. For eg, My husband and i nominate each other as beneficiary. It is fine..but WHAT IF, unfortunately we face a common disaster??? If rely on LA, EPF takes a long years before money is released.
Jean72
post May 6 2008, 10:34 PM

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QUOTE(Director @ May 6 2008, 08:34 PM)
writing a will is still not quite "open" to fellow malaysian. seems like doing something bad/ bad luck/ bad sign smile.gif
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Director, nice photo. Was it the "Iron Man" actor? Anyway, I am sure Malaysian now is more educated and realise the importance of having a will ..
Jean72
post May 6 2008, 11:17 PM

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QUOTE(Shinichi @ May 6 2008, 11:03 PM)
Hi all,

Stupid question to ask here. If I were to leave this world, what will happen to all the moneys in my bank accounts? Will my family members able to get my money

Thanks.
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25% to your children; 25% to your parents, 50% to your partner. But it does take a long time to process ...
Jean72
post May 6 2008, 11:40 PM

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QUOTE(Shinichi @ May 6 2008, 11:22 PM)
Thanks. What if I'm not married and do not have any dependents? Will my parents or siblings able to claim it too?
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yes. in that case, i think 50% your parents, and 50% your siblings...if I am not wrong. This I am not sure.....
Jean72
post May 8 2008, 04:42 PM

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QUOTE(lil`pumpkinz @ May 8 2008, 07:53 AM)
What is there to fix?  blink.gif I have a stable income where I can afford my shoppings, properties and my bank account is not with zero balance.
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lil pumpkinz

Why do I often hear others to talk about your shopping issue. Guys, just leave her alone. Afterall, she is spending her money, her very own hard earned money.

Having said so, I do encourage saving. Seeing your money /assets growing is very rewarding (or is it just me?)

 

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