The Ten Reasons Why We Need Estate Planning
Why E state P lanning Is Still Important? Entire Malaysia has frozen assets & cash of RM 700 Billion in total. What has happened? Due to the lack of knowledge of society, this is inevitable. Countless ancestors left behind assets to their few generations, but to unfreeze those, it takes at least a 3-4% fee. Are you aware? The real reasons we need to do estate planning still remain: to take care of ourselves and our families the way we want. Here are the top ten reasons we still need estate planning. 1. Ensure Your Assets Are Distributed the Way You Want Everyone has an estate plan, either the one you have created or the default plan of the state in which you live. It is very unlikely that the state’s default plan is what you would have wanted. Non-family members, like an unmarried partner, will not receive any of your assets under the state’s plan. 2. Avoid Probate If you don’t have a plan, your assets will probably have to go through a court process called probate. If you have