WASIAT
The first question that always triggers into our mind is that “Is there a need to write a Wasiat?” The Prophet is reported to have highly encouraged its adherents to write their Wasiat when they leave property for their heirs:
“It is not permissible for any Muslim who has something to Wasiat to stay for 2 nights without having his Wasiat written and kept ready with him”
(Extract from Sahih Al-Bukhari, Cap 55, Hadith I. Ibn Umar)
As you may be aware, the Islamic Law of inheritance sets prescribed limits but allows for the use of a written Wasiat as a flexible way of distributing one’s assets. A Wasiat therefore is a legally binding document which encapsulates your wishes. A Wasiat is a declaration of one’s intention to bequeath up to one-third (1/3) of one’s estate to non-heirs and to provide instructions as to the way matters are to be dealt with after one’s lifetime.
ADVANTAGES OF HAVING A WASIAT
- Declaration of “Harta Sepencarian” (limited to a maximum of 50% of the total estate)
- Cater for distribution up to 1/3 of the estate to non-faraid beneficiaries (Grandchildren, Adopted children, Non-Muslim parents/children/family members or Charities)
- With the consent of all your beneficiaries, you are allowed to devise gifts to specific beneficiaries in accordance to your wishes
- Ability to appoint preferred Executor and Trustee to manage and distribute the estate and Guardian to act as caretaker for your minor or special child
- Minimize legal formalities and expenses with efficient administration & distribution of assets upon demise
- May instruct/leave messages to specific persons and be exempted from the requirement to provide Administration Bond
EXECUTORSHIP
It is essential for you to appoint an Executor in your Wasiat, who you trust can carry out your instructions/wishes as stipulated in the Wasiat. The Executor should be someone who is trustworthy and has the expertise and experience to handle the estate thus saving cost and time. The functions and duties of Executor are as follows:
- Identify, secure and deal with all assets and liabilities of the deceased person
- Obtain Grant of Probate from High Court, Sijil Faraid and endorsement on the list of “Harta Sepencarian” from the Syariah Court
- Identifying and paying valid debts and claims against estate
- File tax returns and deal with any legal issues that may arise and obtain consents (if required) and distribute the balance of the estate to the rightful heirs or beneficiaries
- Hold estate on trust until the beneficiaries attain the age of entitlement or upon completion of certain events
YOU CAN APPOINT PB TRUSTEE SERVICES BERHAD AS EXECUTOR & TRUSTEE AT NO EXTRA FEE!!
FURTHERMORE YOU GET A DISCOUNT ON OUR WASIAT WRITING FEES WHEN WE ARE APPOINTED EXECUTOR & TRUSTEE
CUSTODIAN OF WASIAT
Having made the wise decision to get a Wasiat written, it is crucial for you to ensure that your Wasiat is well kept in a safe place. It is pointless if your Wasiat is DAMAGED, TAMPERED, or LOST when needed for the Probate application.
Make the wise decision; ensure your Wasiat is kept in safe custody. Engage us as Custodian even if you have decided to appoint your own preferred individual Executor for your Wasiat and be confident that your Wasiat is KEPT SAFE and CONFIDENTIAL for a small fee.
ENJOY FREE LIFETIME WASIAT CUSTODY AND AN ANNUAL UPDATE OF YOUR INVENTORY UPON OUR APPOINTMENT AS YOUR EXECUTOR AND TRUSTEE
ADMINISTRATION OF ESTATE
Estate administration is the course of action taken by an Administrator or Executor from the point of obtaining Letter of Representation to the distribution of assets. An appointed Estate Administrator or Executor will make the necessary application for extracting the Letter of Representation (Letter of Administration or Grant of Probate) and will ensure that the distribution of assets is done in accordance to the relevant Islamic law and/or in accordance to Faraid Certificate.
OUR FEES ARE VERY COMPETITIVE & REASONABLE
CALL US FOR DETAILS NOW!
BENEFITS IN APPOINTING PB TRUSTEE SERVICES BERHAD AS EXECUTOR / TRUSTEE UNDER YOUR WASIAT
We take pride in our administration of trusts and estates. As trustee, we manage the challenges that inevitably arise within families during their time of grief. We provide continuity and objectivity, protecting family legacy from a variety of risks, incapacity, incompetent asset management and fraud, life events such as divorce, remarriage and undesirable influences. We take the responsibility to ensure that our Client’s wishes are enforced and explained to their beneficiaries. By procuring PB Trustee Services Berhad services, you will enjoy the following benefits:
- DULY AUTRHORISED TRUST COMPANY
PB Trustee Services Berhad is duly registered under the Trust Companies Act 1949 and is authorized by law to undertake all types of Trustee business.
- COMPREHENSIVE AND SPECIALIZED
We have been established since 1968 as a specialised and comprehensive Trust Company and also enjoy the financial backing, human capital support and other resources as a member of the Public Bank Group.
- CONFIDENTIALITY
Client confidentiality is always maintained by our professionally trained team of personnel.
- ACCOUNTABILITY AND IMPARTIALITY
We are a Corporate Trustee, duly authorised and regulated by law. We maintain our legal and fiduciary duty to act with stringent impartiality in all Trust matters without any conflict of interest.
- EXPERIENCE
We have been in Trustee business for 40 years and our team of professionals are experienced and trained to offer professional advice to our Clients.
- ACCESSIBILITY/CONTINUITY
Individual trustees or executors may not be traceable or may be incapacitated, unwilling to act or may pre-decease the Testator, when the time comes for the trustee/executor to act, PB Trustee Services Berhad, as a Corporate entity, would always be accessible/available on every business day, for the long term.
- FULL RANGE OF SERVICES
We provide full range of Services such as Trust, Wasiat, Executorship, Custodian and Estate Administration Services which can be tailored to suit most of your needs.
|
