Do you have a Will?
Few days back at my aunt's house, I met this professional will writer from Rockwills. He explained to me why it is important to have a will if you have children. Do you know that should you die without a Will, your properties/money/trust funds and others will automatically go to your child 5o%, husband 25% and parents 25%. If your child is below 18 and your husband decided to sell off the properties... he will not be able to do so until your son is 18!!! The worse thing is, it takes about 2 to 10 years to have all these things transfered to your child and family. No joke. Of course there are also other complications. I always thought that if we have joint name properties, should one of us die, it will automatically go to our spouse. Apparently not. The court will divide the deceased share to his parents, children and wife.
So my dear friends, if you don't have one... better get one done.You don't have to pay for professionals to do it unless you have alot of money and properties to be given away, else make a simple one with a minimum of 1 trustee and 2 witnesses. I am waiting for my friend to send me the will templet and to confirm whether there is a need to go to the commissioner of oath to have it legalized.
If you decide to go for professional services, with Rockwills it's RM650 plus compulsary RM80 to have your will kept with their trustee and another RM100 for..sorry can't remember what. Maybe you can google them up. I think they are a bit expensive. You can do it with a lawyer and better still, do a simple one like what I am going to do. Just make sure your trustee and witnesses know where to find the Will should you die!
Oh...something funny the Will writer shared about some of his wealthy customers. Whenever they travel abroad, they will try to travel separately. This is to avoid dying together and having problems with their Will like how the beneficiaries also died and bla..bla..bla... it all make sense but still finds it hard to believe that people actually go to that extend to protect they money and stuff... Anyway.. Do up a Will if you have children. It's our only way to protect them when we are no longer around!
Few days back at my aunt's house, I met this professional will writer from Rockwills. He explained to me why it is important to have a will if you have children. Do you know that should you die without a Will, your properties/money/trust funds and others will automatically go to your child 5o%, husband 25% and parents 25%. If your child is below 18 and your husband decided to sell off the properties... he will not be able to do so until your son is 18!!! The worse thing is, it takes about 2 to 10 years to have all these things transfered to your child and family. No joke. Of course there are also other complications. I always thought that if we have joint name properties, should one of us die, it will automatically go to our spouse. Apparently not. The court will divide the deceased share to his parents, children and wife.
So my dear friends, if you don't have one... better get one done.You don't have to pay for professionals to do it unless you have alot of money and properties to be given away, else make a simple one with a minimum of 1 trustee and 2 witnesses. I am waiting for my friend to send me the will templet and to confirm whether there is a need to go to the commissioner of oath to have it legalized.
If you decide to go for professional services, with Rockwills it's RM650 plus compulsary RM80 to have your will kept with their trustee and another RM100 for..sorry can't remember what. Maybe you can google them up. I think they are a bit expensive. You can do it with a lawyer and better still, do a simple one like what I am going to do. Just make sure your trustee and witnesses know where to find the Will should you die!
Oh...something funny the Will writer shared about some of his wealthy customers. Whenever they travel abroad, they will try to travel separately. This is to avoid dying together and having problems with their Will like how the beneficiaries also died and bla..bla..bla... it all make sense but still finds it hard to believe that people actually go to that extend to protect they money and stuff... Anyway.. Do up a Will if you have children. It's our only way to protect them when we are no longer around!
3 comments:
Legal issues can be very sticky. A friend actually showed me a sample of what you mentioned or writing the will yourself. I have not gotten round to do it, nor to get hubby to. Must make a mental note for self.
I was nagged and nagged until I made one already. Now have to nag hubby to make one as well.
And everytime I go back to Ipoh, my mum will remind me again where the things are kept and all the important numbers...
Even with a will, my mum and siblings took a long time to get some FDs of my grandpa out. Sigh....
It is good to have all our affairs in order, I reckon.
Kathie,
I know it's kinda complicated... I just want to get it done and know for sure that my boy is protected!
Ann,
Ah, glad that you have one... I was also nagged a long time ago but only recently did I get to sit down and listen to the whole Will thingy. I am definately going to get it done... ASAP... :)
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