Writing a Will

The recent spate of articles in the papers and magazines highlighting the importance of writing a will should have clued you in to its importance. This is probable in no small part due to the elephantine sum of RM 40 billion reported by the government to have been left by the deceased and unclaimed by their heirs.

The bulk of this sum RM 38 billion, languishes in the form of land and properties, with about a million titles still under the deceased names while the rest is locked up with the registrar of unclaimed monies or the EPF. Though not everyone agrees that one’s assets should be distributed according to one’s wishes after death – Muslims are bound by the Fara’id (Islamic inheritance law) that determines the respective shares of their heirs – most are burdened with concern for their family’s welfare after death.

Before writing a will, remember that you can change the contents of the document as and when you choose. You are also free to dispose of any assets listed in your will. Begin by listing all your assets – property, cash, investment, jewellery or anything of value, including insurance benefits. Second, list down the beneficiaries. This can be anybody you wish to benefit. Then decide on the asset allocation to the beneficiaries – who gets what and how much.

Choosing the right guardians for beneficiaries below 18 years is equally important. When you’re done, keep it in a safe place where it will not be tampered with. Ensure that your executors and beneficiaries know how to locate it.

Important issues when writing a will

Ensure competent executors & Appropriate Guardians
Finding a reliable executor facilitates the ease of distributing your assets, especially when dealing with a complicated will with diversified assets. It is also important to obtain their consent before finalizing a will.

Complete list of all assets
If you fail to account for all your assets or are unwilling to reveal complete information on them, it is unlikely that your beneficiaries / executors will have complete knowledge after you are gone. Your beneficiaries will be disadvantaged.

Allow for taxes or other financial considerations
Many overlook the incurrence of taxes and bills , funeral expenses, legal fees and unpaid bills. Depending on court schedule, the application for the Grant of Representation takes 6 months or longer. It is therefore important to set aside a reasonable sum of cash.

Anticipate for leftover assets.
Even if you think you have accounted for all your assets, you may inadvertently miss out a few. Make provisions to take card of such leftover assets or they will be rendered intestate and left in the care of the state.

Use easily understood language
While it is common for wills to be drafted in legal jargon, many are unclear on specific terms and may use them wrongly

Provide complete names
Being careless in providing accurate or complete names in the will may result in confusion.

Review will when family status changes
Marriage invalidates any will written prior to the event.
Review your will every time there is a major change in your life – marriage, divorce, birth or adoption.

Review will when circumstances of executor / beneficiary / guardian change
If an executor or beneficiary happens to change their marital status or their names or pass away before you

Update will when assets change significantly
Whenever there is an important change in you assets

Always inform executors about will location.
A will that cannot be located is as good as having no will at all. This is one of the leading causes of wills not being executed. Secure your will in a safe location.

Swiss Garden Resort & SPA (9th-11th May)

Our trip to Swiss Garden Resort & SPA at Damai Laut

It took us 5 hours drive to reach there and so tired taking care of Little Rachel in the car during the journey. She cannot sit still for long hours. I will re-consider to bring her for long distance drive .

This resort is isolated, we need to drive about 45 minutes to reach there. The road is up and down, narrow and surrounded by jungle.

Overall, ermmm… So, So and we will not come back again! Good-bye!

Change would do you good

Valid reasons on why you might want to consider a change of career

Do you often find yourself frustrated or bored at work? Maybe you feel as if you aren’t loving up to your true potential at your current workplace or conversely that your job is difficult, demanding and stressful? If this sounds like you, maybe it’s time to consider making a change in your career. You’re fantasized about quitting your job many times and you’re even taken the first steps towards a career change. Well, why not go ahead and make that proactive leap towards finding happiness and contentment through a tried and true career change? It might not be easy and it might not be lucrative right away but having a job that you enjoy can pay off huge dividends in the future. Read about some steps you can take toward making a career change in this article.

Step 1
Make a list of all the positive or negative things about your current job. If the negatives outweigh the positives, move on to Step 2

Step 2
Consists of thinking of other jobs you might enjoy. Maybe you just want to make a small jump – say, a writer trying to jet a job at another publication. Or you could be looking to revamp your entire life – like going from stock broking to starting your won restaurant. If you’re in the position of an executive or mid level management, then simply start scouring ads for similar jobs and sending out resumes. But if you’re considering a drastic change in your career path, you will need to move at a slower pace. First, outline a logical plan for how you would go about changing careers – include a timeline, consider the costs involved and decide whether or not you would need more schooling. Also, be realistic – use the skills (both professional and personal) and the education that you have or could reasonably get to formulate the choices you make concerning a career change. If you have no mechanical skills, you probably will not succeed as a mechanic. Use common sense. That’s not to say that you cannot branch out, stretch yourself and uncover new talents – just be sure to make goals that are attainable.

Finally
Network! Speak to others in the field you’re considering moving into and find out how they got their jobs. Social networking sites like linkedln make it easy in the modern age to find a lot of people to get this kind of information from. Once you think you’re ready to change careers, take the first steps towards doing so. Enrol in classes, send out resumes and go on interviews – whatever it takes. It’s not advisable to quit your current job before you have another one lined up or a solid plan in place. You can change careers but be smart about it. In the long run, when you have less stress and a higher quality of life, you will be glad you did.

I have been wanting to eat Teppanyaki

My Lunch : Chickent Teppanyaki + Green Tea = RM12.20 Per Person (Inclusive of Tax)

At Different Price

These curry puffs are selling in SS2 @ RM 1.30 per piece but at Mid Valley Shopping Mall it is @ RM 2.00 per piece. There is a huge difference on the pricing.

Same owner, same food and same name but at different location therefore selling at different price. The bottom-line is the profit margin. What is the profit margin? Any business, profit margin is the most essential.

Same as buying or selling a house, locations make a great impact on the price.