Thursday, February 16, 2012

Will Writing Free Service

At Public Mutual, we provide excellent service to our valued unitholders.
WILL & WASIAT WRITING SERVICES

Enquiries OnYour Account With Us

Will and Wasiat Writing Services are legally effective arrangements to ensure the disposition of assets in accordance to ones' personal wishes. It helps to smoothen the process of estate administration and distribution.

Although writing a will or wasiat may seem like a daunting task and not of utmost importance; failure to plan and arrange your affairs now might bring hassles to your loved ones in the future.

Hence, make a wise choice today to mitigate family disputes and ensure your loved ones are protected.

What is Will?
A legally binding document by which an individual signifies his/her wishes as to the distribution of his/her estate upon death.

Importance of a Will
Expedite legal process
Faster distribution of the estate and less costly
Preservation of wealth (for future generation)
Mitigate family disputes

Benefit of Will Writing
Cater for beneficiaries outside the law
Own choice of executor, trustee and guardian
Specify assets to specific beneficiaries
Determine the age of entitlement up to 21 years old
Revocable
Can retain ownership of assets
No sureties required
Avoid depletion of assets
Final Message
Peace of mind

What if you don't have a Will?
If you don’t have a Will, your estate has to be distributed according to the Distribution Act 1958 as shown:
Under Distribution Act 1958 (As Amended in 1997)
Primary beneficiaries are spouse, issues and parent(s)

Note: If there is no living primary beneficiaries, then the following person (s) are entitled to the estate in accordance to priority:
Brothers & Sisters
Grandparents
Uncles & Aunts
Great Grandparents
Great Uncles & Aunts
Government

What are the possible implications if someone dies without Will?
Time consuming and costly
Beneficiaries and percentage of inheritance are determined by the Law
Beneficiaries outside the Law will not benefit
Appointment of administrator
Requirement of two (2) sureties

Implications of not having Will
Possibility of splitting of assets to too many beneficiaries
Wishes of the deceased will never be heard thereafter
Inheritance might be misused by immature beneficiaries
Family disputes
Depletion of assets
No peace of mind

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