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 Have you written your WILL?

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cherroy
post Sep 6 2010, 10:54 AM

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QUOTE(HHalphaomega @ Sep 6 2010, 10:38 AM)
Not sure about Rockwills but for OSK Trustees it's as follows;

The charge starts from RM380 (12 clauses) + One year custodian service RM100.00. Lifetime custodian service is RM800.00. Subsequent revision/re-writing of the will start from RM300.00 (1-6 clauses) onwards.

Basically the charge is dependent on the number of clauses you have in your will as the more clauses would mean a more complete will as well more instructions.
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One thing I would like to know.
What if the trustee out of business liao or non-existing already?

What happened to the will?
If the trustee out of business, then who will execute the will?

As some may under life-time custodian after writing the will, but trustee may not existance life-time due to whatever reason.

cherroy
post Sep 6 2010, 03:47 PM

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QUOTE(HHalphaomega @ Sep 6 2010, 11:22 AM)
Cherroy,

Trust corporation such as OSK Trustees enjoys perpetuity & is governed by the The Trust Companies Act 1949 hence when one is wound up another trust corporation is appointed to take over the role it was carrying out.

Apart from that, in the case of OSK Trustees being backed by a bank would also see Bank Negara getting involved should this event take place.

I hope this answers your question.

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Ok thanks for the info

QUOTE(wodenus @ Sep 6 2010, 02:49 PM)
Guys you don't need a lawyer or a trustee unless you have a real fortune and it's really so diversified that it's hard to take care of personally. Why make other people rich?
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How to do it, without going through the hassle of LA without will one.

I have close relative facing this kind of issue before, father passed away suddenly without will. Properties, car and accounts are stucked for years, before getting LA to clear.

So what the advice for this kind of issue.
cherroy
post Sep 6 2010, 11:33 PM

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QUOTE(cuebiz @ Sep 6 2010, 11:02 PM)
The beneficiary can also be the executor. Only requirement is must be above 18 years. Seriously, if one really wants to write a will, do consider professional services rather than DIY unless you know the law inside out. It is not too expensive and usually, you only write it once unless change in marital status  tongue.gif
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Majority people especially middle class one have simple will aka their asset like properties, money in account want to pass to whom only.
So if the simple will is valid and hold ground, then there is really needless to appoint an external services, unless one is wealthy enough, and a few couple hundred or thousand doesn't matter.

Just want the execution of will and asset passing is quick enough to prevent hassle for the benefiery or family members.
The least I want to see, if I passed away, is that create problem for my family members, and money in the banks, assets cannot be owned by them and utilised.

I had seen how some family stuck with properties under the death person name, car cannot renew the roadtax etc, those kind of hassle thing which take year or years to solve with LA.

 

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