With the recent proliferation of people offering such services, you may be confused about who to see. There are free-lance Will writers, Will-writing companies, trustee companies, law firms and even banks. The obvious choice is to go with the company most well-known and established for estate planning. Rockwills have been in the estate planning business for 21 years and we have now written more than 180,000 Wills, set up more than 8,000 Trusts, more than RM 2 Billion assets under trust.
You can appoint anyone who is not a minor, or of unsound mind, can act as a trustee or executor. You need to ask yourself whether they will be trustworthy or committed when faced with pressures of their own in business, finance or otherwise. You need to also ask yourself whether they are competent in handling legal, court, tax and financial affairs. It is our experience that in many cases, the individual eventually delegates the work to someone else who may or may not do the job properly and who may eventually cost more.
You need to bear in mind that such persons will grow old and die. Along the way prior to completing the distribution of your assets, they may become sick, senile, incapacitated or become of unsound mind, who then will take over? There will be delay for the next person to act as administrator or trustee because it requires a court order and also assets will have to be transferred to the new administrator/trustee’s name where additional costs will be incurred.
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