Whenever I asked the people around me do you have your Will and Trust set up? Many will reply me I do not have assets and I don't need a Will or Trust. This is a terribly wrong statement.
EVERYONE HAS ASSETS , IT IS ONLY THE MATTER OF HOW MUCH IT'S WORTH....
In fact, most of us owned the asset especially in this modern world now. Can I ask do you have a house ? Do you have a car ? Do you have EPF ? Do you have saving account, Do you have unit trusts fund ? Do you have share stocks ? Do you have FD saving? Do you have Insurance Policy ? I believe most of the people will have the items mentioned. These are the basic assets that most of us will have. I'm not talking about the value here. Some people may have more than one house or shop office or car.
There are two type of assets, Movable and Immovable assets. Movable assets are all your cash like saving/current account, FD account, Share stocks and Unit Trust fund...Immovable assets are Houses, Shoplots, Land titles...etc.
Do you know that when someone has passed away all his/her assets will be FROZEN ?
None of the parties in the family ( Spouse,Children,Parents,Dependants) can inherit the properties and cash. This is the rules act and everything has to be followed Court Order to distribute the assets according to Assets Distribution ACT 1958 the process will take 2-6 years or even longer. Still, there are many detail procedures to comply in the process of unfrozen the assets.
UNLOCK YOUR FROZEN ASSETS WITH A WILL.
The only way to speed up the work and reduce the process time is to use your Will to unlock the frozen assets.
You can avoid this long process by writing a will, It is just simple work that you need to do now. If you really love your family and do not want them to suffer during the misfortune time, please consider to give me a call. I'm more willing to share in details.
I'm Steven Chia a Professional Estate & Wealth Planner.
Free Consultation with No Obligation.
No comments:
Post a Comment