Just less than two weeks ago five members of a family were killed and three others injured when the car they were travelling in collided with a trailer lorry which is believed to have been overtaking another car from the opposite direction. The dead were the father, his three children and mother-in-law. Those injured were the mother of the family and another two children. Another daughter is still studying overseas. It is always sad to read this kind of news and even more heart wrenching when you see their funeral in the newspapers. I believe that those who have followed this news feel very sympathetic to the family and hope that we won’t face this situation with our family one day. A tragic accident like this is a grim reminder to all of us that life is so fragile and it can happen to us anytime because tragedy strikes like lightning. In light of such tragedy, we should ask ourselves what kind of financial security can we provide for our family, should anything happen to us?
One of the ways to provide financial security is to do a will and trust for the family. Assuming that the deceased father died without a will, the first issue that needs to be addressed is the appointment of Administrators for his estate to apply for the Letter of Administration. Once the Administrators have been appointed, then two guarantors (known as sureties) are required to provide the Administration Bond which is equivalent to the gross value of the deceased’s estate. With this in place the distribution of the entire estate will be based on the Distribution Act, 1958 (amended in 1997) i.e., ¼ to his parents (if they are still alive), ¼ to wife and ½ to children equally. If the deceased’s parents do not survive him, then the estate is distributed to wife (who will receive (⅓) and the children (⅔).
If the deceased has a will, then he would be able to appoint the executors of his choice. Secondly, he could choose the guardian for his children who are under 18 years old should the wife pass away. With regards to the distribution of his estate, he can give to his beneficiaries according to his wishes. Since he has children who are under 18 years old and could not receive his estate, then he can set up a testamentary trust in his will so that he provides a certain amount for their monthly expenses.
In addition to a will, he can also set up a Trust for his children’s living, medical and education expenses. To create the Trust, he can assign life insurance policies to the Trust. Upon his demise, the money from the life insurance will be paid immediately to the Trustee Company like Rockwills Trustee Bhd, who will in turn distribute the moneys periodically to the respective beneficiaries according to his wishes written in a Trust Deed. This method of immediate funding is important and crucial especially when he has a daughter who is studying overseas. The reason for choosing Rockwills Trustee Bhd. is because it has the expertise, impartiality, professionalism and most importantly perpetual existence. So I urge you not to delay anymore and immediately take steps to provide security for your family by doing a will and trust for them.
Peter Lee is an Associate Estate Planning Practitioner (Wills & Trust) with Rockwills International Group. He is also an Islamic Estate Planner providing Wills & Trust services for Muslims. He is based in Ipoh and can be reached at: 012-5078825/05-2554853 or email@example.com.
Manage your weight and look great…
Kuala Lumpur Kepong Berhad
Datuk Roshidi Hashim
Ipoh Mayor Datuk Roshidi Hashim, whose two-year term expires in June, has been reappointed for another two years.
Commenting on his reappointment, Datuk Roshidi said his priority would be to assist the Menteri Besar and the state government in realising the Aman Jaya approach in planning and the Government Transformational Programme, which has been conducted at both federal and state levels.
“I am personally committed in ensuring a clean, green and a vibrant city in line with the wishes of the state government. The Menteri Besar has also instructed me to implement projects concerning beautification, landscaping, lighting and the upgrading of roads in the city.”
“God willing,” he said, “I shall undertake these tasks with vigour and determination. The Menteri Besar has been to Wenzhou (China) and is impressed with the city’s landscape and its vehicle-friendly traffic system. These shall be the models for Ipoh.”
Datuk Roshidi took over as Mayor in 2008 when Datuk Mohamad Rafiai Moktar retired. Prior to his appointment, he was the council secretary.
He had also been the private secretary to former Perak Menteri Besar Dato’ Seri Mohamad Tajol Rosli Ghazali.
The launch of the all cargo airline servicing the Singapore-Ipoh sector which was scheduled to be launched at Ipoh Airport on June 16 has been “postponed indefinitely until further notice”.
The statement of “postponement” was informed to Ipoh Echo by Perak Exco Chairman for Industry, Investment, Industrial Development and Tourism, Datuk Hamidah Osman during a phone interview a day before the launch date.
The launch of the all cargo service was announced by Hamidah earlier this month, who also stated that the Ministry of Transport had given its approval to start the service.
Hamidah did not provide any details for the reason of the postponement. Subsequent follow up with officials from the Ministry of International Trade and Industry and the airline Asialink Cargo Express came up negative.
The introduction of an all cargo airline has been described by Dato’ Gan Tak Kong, chairman of the Federation of Malaysian Manufacturers (FMM), Perak branch, as being “of great benefit to manufacturers in Perak which would enable the state to promote manufacturing besides tourism.”
Ipoh is one of the many cities in the country which is blessed with two libraries. You have the Tun Razak Library managed by City Council (MBI) and the Perpustakaan Awam Negeri Perak, which is managed by the state government. Regardless of their affiliations both are being funded by the rakyat’s money. In spite of attempts at improving services, ill-placed at best, quality has nose-dived. I say this with much conviction, as seeing is believing. Staff attitude is to be blamed.
The emphasis at the MBI library is on reading, thus the vast open space available. At the state library the emphasis is on information technology. However, there is little to suggest that this is so as very few computers are accessible to the public. Those wishing to access the Internet have to pay a fee for power supply. Unfortunately, only a few dedicated power points are available for use. The computer room is on the first floor but the computers are no-go as they are meant for workshops only. They remain idle in the room.
One common problem found in both libraries is the quality and quantity of books available. Most are outdated and in poor shape. There is a dearth of new books and publications.
Arrangement of books in the state library is poor as similar-subject books are found in different aisles and shelves. This is indicative of poor handling and supervision. The other problem is space at the children section of the state library. It has been taken up by staff.
I hope those in authority will take heed of these inconsistencies and make amends where possible. The sanctity of the libraries should be protected and not exposed.
The new director of the Department of Culture and Arts Perak, Encik Abdul Mutalib Abdul Rahman, plans to introduce programmes to rekindle interests in culture and arts among Perkeans.
He outlined his intentions at a meet-the-media session at Heritage Hotel, Ipoh, recently. “The media can help promote my plan,” he implored. Mutalib will establish a one-stop centre for cultural excellence called the Cultural Hot Spot. The Centre will showcase the cultures of the various communities in the state, including their handicrafts and products. The other programme he has in mind is Senaman Seni 1Malaysia. “As the name suggests, it’s a physical workout employing a mix of cultural dances and the art of self-defence such as silat, tai chi and silamban,” he remarked. The one-stop centre will be held at the weekly night market in the city while Senaman Seni 1Malaysia workouts will be conducted at Taman Budaya Ipoh every Wednesday at 5.30 p.m. Mutalib took the opportunity to introduce the department’s new PRO, Nor Fairus Alias, to the media representatives.