Category: Blog Post

I NEED TO FIND AN EXIT FOR MY SHARES WHEN A AM NOT AROUND A well-constructed plan is essential to protect the value of the business and provide cash for the family in the event there is a major disruption in the business due to a co-owner’s death, disability, retirement or serious major illness or any other event that jeopardizes the continuity of the business. Ask yourself:- If a co-owner dies today, can you work…

Chong’s death at 37 following a road accident started a chain of events which left his wife, Angie, in a world of uncertainties. It was all too sudden. And what followed dealt blow after blow that literally took Angie through hell. Blow #1: A future without Chong, a pillar of strength for Angie and their three little ones. Blow #2: Chong didn’t leave behind a will as he didn’t get down to doing it. Blow…

Tham was convinced by his son Alex, to appoint him as the executor and not trust a company so to save on the estate administration fees and his is one of the beneficiaries. Upon Tham’s death, Alex went about to obtain the grant of probate. Little by little, he found out that he had a load of administrative matters to handle-  identifying, locating and collecting all of Tham’s assets, obtaining data on all liabilities, dealing…

Matthew Mellon gambled back $1b lost fortune: Now he’s dead and the money’s vanished 22 Apr, 2018 10:55am ’According to Forbes magazine, Mellon was worth an estimated $1 billion ($1.38b) because of an extraordinary gamble in Ripple cryptocurrency –money similar to Bitcoin which exists only in the digital world. He turned an initial $2 million investment into an online fortune. He “cashed out” $350 million of his investment on January 3 – just six days…

Below are the latest RPGT and Stamp Duty rates in 2019 RPGT 2019 Year Individual Citizen Individual Non-Citizen Companies Up to 3 Years 30% 30% 30% Up to 4 Years 20% 30% 20% Up to 5 Years 15% 30% 15% Above 5 Years 5% 10% 10% STAMP DUTY SCALE 2019 First RM100,000 1% Next RM 400, 000 2% Next RM500,000 3% RM1,000,000 above (New Level, effective on 1st of July 2019) 4% Sources: http://www.sinchew.com.my/node/1822473 https://www.propsocial.my/topic/743/property-management-after-death-in-malaysia-posted-by-propsocialeditor…

If you own a business, probate court can undermine years of vigilance, publicizing your company’s value to competitors and potential acquirers. SAM EDWARDS By David Bross – Truepoint Wealth Counsel Oct 1, 2018 Aretha Franklin’s catalog of hit songs will leave a legacy for generations, but, without a will, the legacy of her financial estate is much less certain. According to her attorney, Franklin meant to create an estate plan, but never got around to…

Do You Know? – Reasons “The Industry / Company – Rockwills” – Reasons “Your Mentor Chong Mok Yong (012 – 303 9383)”

“Settling an estate is often a thankless task” “Money has a habit of changing the attitudes of a lot of people,” Mr. Ngai says, “but an executor’s job isn’t simply to distribute wealth.”Based on a survey made among those who have served as executors, the challenges and expectations are listed below for your reference. The survey above shows that being an executor is not an easy job. The expectations are high and the duties of…

Insurance only protects against the loss of income, whereas if I were to set up a will and trust, then I am also protecting my assets and savings. > Saw