Saturday, August 20, 2016

I can do it myself lar, Don't try to earn my $$$

Many people would like to save the estate administration cost. Saying not wanted the trustee company to earn so much after their death, and would just appoint their family or friend as the executor of their will. In fact, do you know what's the pros and cons about it? Let's see Alex's story.



What's need to be done when executing a person will ?

  • Obtain grant of probate
  • Identify, locating, collect all assets
  • Obtain data on all liabilities
  • Dealing with creditors & banks
  • Dealing with income tax department
  • Filing of the estate's own tax returns
  • and many more
And, notice that, this is only things come before "distribution" step.



Image source: Rockwills Corporation Sdn Bhd

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