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What Is Estate Planning?

What will happen to your family when you, the main family breadwinner has gone? 

Leaving the beneficiaries to fight over rightful assets and enduring a long-drawn out court battle while their financial position remains unstable?

Estate planning serves to preserve your legacy and distribute the assets to the nominated beneficiaries in the most effective process possible. The process consists of two parts, transfer of the estate, and the distribution of the estate. However, at its most basic level, estate planning begins with writing a will which will be a legal document to provide instructions on how your remaining assets and custody of children under the age of majority, including assigning guardianship, trustees and executors for the estate.

Why You Should Think About Estate Planning

Choose the Beneficiaries to Protect

When you pass on without a will, it’s up to the court to distribute your assets which can take years, costs a lot to pursue and may end up with disappointment if the split of assets is one-sided. Having a will and proper estate planning will ensure that your assets will be distributed to the beneficiaries of your choice.

Protects the Young

If you’re a young parent, you need to prepare for the unthinkable. Leaving a will and assigning a designated guardian who will care for your children if both parents die before the children reach the age of 18 will give you peace of mind.  

Reduces Disputes Between Family

Even if it’s one asset to be shared by a few beneficiaries, disputes can arise if there is no will. Avoid a messy family fight by having a proper estate plan in place. The estate plan allows you to choose who can control the finances and assets if you’re mentally incapacitated or die and ensures that your assets will be handled the way you want them to be.

Getting to Know Our Products

As part of our portfolio, we offer the UBB Amanah Cash Trust, which allows you to have a sum of cash made available to named beneficiaries in the event of any emergency. The cash trust provides swift relief to support your family during times of need while waiting for insurance payout and access to other assets pending the grant of probate and execution of the will.

UBB Amanah Berhad has been providing trust services for over three decades since 1988. Their vast experience in trust services to wealth planning and wealth preservation makes them a leading organisation of the trust industry in Malaysia. They can also provide regional and international trust structures and management services and effective tax planning and benefits based on their long-running experience in cross-border trust management.

To know more about UBB Amanah, visit: https://www.ubbamanah.com/

**DCA Advisory is affiliated to UBB Amanah Berhad through Pisteuo Advisory Ltd.

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