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 Have you written your WILL?

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constant
post Sep 8 2010, 04:28 PM

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If we have a house with loan outstanding and we have no will, what will happen to the house on our passing? Who should continue paying the installments if we do not buy MRTA? Can the wife or the kids continue to rent it out for rental income? Who is entitled to collect the rent? hmm.gif

And, who should we approach to write a will? Out of Rockwills, OSK and Public Trustee, which one is recommended?

Thanks
constant
post Sep 25 2010, 12:18 AM

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If one approach a trustee company like OSK Trustee to write a will, is it better to also appoint them as the Executor? Or is it better to appoint a close relative or friend?
constant
post Sep 25 2010, 12:09 PM

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QUOTE(cuebiz @ Sep 25 2010, 11:18 AM)
Executor is an important role. If you appoint your own people, you need to make sure that they will perform the duty later on. You need to inform them first whether they willing to take on the role of executor. BTW, the executor reserves the right to charge 5% of the total assets as his fees.

IF you appoint OSK, then you can assure that it will perform the duty with transparency. Of course, it comes with a fees. You have to check with them how much they charge as it is based to tier rates.
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Are u sure OSK charges 5% as executor fees? 5% is too much! PB Trustees only charge about 1%. Is there anything else I should be aware when appointing trustee company as executor?
constant
post Sep 25 2010, 01:56 PM

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QUOTE(HHalphaomega @ Sep 25 2010, 12:46 PM)
Hi Constant,

OSK charges are as follows;

Appointment fee: RM100
Life time custodian fees (compulsory for OSK appointment as trustee); RM800
1st year, 1 to 2%
Subsequent years, 0.5 to 1%

Cheers,

HH
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Hi,

Is there annual charges for appointing Executor??? I think you might have mistaken for trustee charges whereby if a TRUST is set up to manage the estate, there will be annual fees of about 0.5%. I am not setting up a trust. I am writing a will and appoint executor. I believe it is once off charge upon DEMISE of the person. Please clarify.

Thx
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