Mr. Lee wrote a Will on 3/1/2010. In the Will he give all his assets to his son Chi Teng and Chi Weng in equal shares, nothing for his Wife Mdm. Liew due to their bad relationship. Subsequently the marriage broke off and he divorced his wife Mdm. Liew in the month of December that year. On 6/1/2011 he married Ms. Ling, a foreigner. Since then, they were happily married until the demise of Mr.…
"Marriage revokes a Will written prior to the marriage."
Mr. Lee is 78 years old and he has 2 sons. Both the sons are working overseas and have no intention to return to Malaysia. Mr. Lee has a house in SS2, Petaling Jaya, Selangor which worth RM1.5 million and cash in bank outstanding is estimated at RM5.0 million. These are his major assets. He wrote a Will and distributes his whole estate among the two sons in equal shares. He felt sad after singing…
"The use of Testamentary Trust"
Amanah Saham Nasional Berhad (ASNB) has introduced the Declaration of Trust for the investment in ASNB Unit Trusts as they don’t allow a non-Muslim Unit Holder to make a nomination. Without a Trust Declaration, the estate administration process is complicated and time-consuming. When a Unit Holder dies, the Executor or Administrator has to obtain the Court Order to claim and administer the deceased’s unit trust investments in ASBN and distribute it according to the Will…
"Trust Declaration in ASNB for non-Muslim Unit Holders"