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Have you written your WILL?
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numbertwo
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Mar 9 2010, 04:12 PM
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QUOTE(3dassets @ Mar 6 2010, 11:08 PM) I am one of the will witness to my friend he composed himself from downloaded samples, the assets worth 3 million and he got only one daughter that all the family member is at their 50 - 60, very simple and everything goes to the daughter should anything happen. so no need professionals. is a huge asset.. although the distribution looks simple but then who would be the executor in this instant... If you hire a lawyer to execute the will the lawyer has the rights to claim a total of 5% of the entire asset worth as their 'fees' - (correct me if i'm wrong though!).. I would just engage a trustee to take care of the asset, lesser the headaches.
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numbertwo
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Mar 15 2010, 12:27 PM
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QUOTE(cuebiz @ Mar 11 2010, 10:58 AM) 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...
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numbertwo
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Mar 16 2010, 09:57 AM
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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...
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