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…
"Confessions of a Smart Alex"
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…
"The Importance of Estate Planning on Digital Assets" 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…
"Why Pay More Now When You Can Save Through A Will?" 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…
"4 reasons you need an estate plan" Do You Know? – Reasons “The Industry / Company – Rockwills” – Reasons “Your Mentor Chong Mok Yong (012 – 303 9383)”
"18 Reasons to join Rockwills and be a member of Chong Mok Yong’s Premier Group" “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…
"To act or not to act" 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
"Estate Planning: More Malaysians aware of importance of wills and trusts, says Rockwills."
Written By MK Chan – Financial Alliance Pte Ltd’s Director of Finance & Corporate Development and Chartered Accountant.Picture this: Members of a large family comprising nine children continue to be embroiled in legal tussles, aggressively asserting inheritance rights in bids to carve out a piece of the sizeable fortune left behind by their father, who died without making a will over six years ago.Here is another scenario. With the intelligent use of a trust and a…
"Estate Planning in Real Life: Why It Matters To You"
Sonia, 35, considers herself to be in the prime of her life – doing well in her career, having climbed the corporate ladder to be a senior auditor in an auditing firm. She is also financially independent.Being single, she should not have much to worry about such as children’s upbringing and family matters, but she has been having sleepless nights. Her insomnia, which has taken her toll on her health, has kept her mind on…
"Funds To Care For Ailing Parents" Grandma Tan was a picture of hopelessness and remorse as she sat slumped on the chair, staring blankly into space.If only she could turn back the clock, thought the frail old lady, clutching her plastic bag of receipts which represented her only hope to show proof that she had dutifully serviced the housing loan and thus, rightfully owned her house.Her thoughts went back to three years ago when she made the decision to kuasa (an ubiquitous colloquial…
"House lost due to hasty “Kuasa” when son kicks out mother"