CPE/CPD Training

Legal & Practical Aspect of Professional Will Writing & Estate Planning in Malaysia-(Muslim & Non-M)


Description
Financial Master Class-Legal and Practical Aspect of Professional Will Writing and Estate Planning in Malaysia (Muslim & Non-Muslim)

Highlights:
-Unfold practical aspects of professional will writing & other estate Planning tools (Muslim & Non-Muslim)
-Take control of own legacy
-Prevent costly delay & dispute
-Real life stories, case study & Interactive learning

Objectives:
Upon completion of this course, participants will be able to:
1. Employ professional will writing legal knowledge and skill (Muslim & Non-Muslim)
2. Recognize the practical aspects of a professional and enforceable will (Shariah & Non-Shariah)
3. Prevent costly and avoidable mistakes in will writing.
4. Plan their client‘s legacy left behind without any hassle.
5. Manage well their clients’ finance through professional and effective estate planning (Shariah & Non-Shariah) tools.

Content
a) The wisdom about Wealth Management
i) Learn from the rich and the ancient wisdom about how to manage wealth.
ii) What are ten pieces of advice to be a “Success Parent & Productive Children” according to the book “Millionaire Next Door”
iii) What legacy to leave behind (Sadaqah Jariyah)?

b) Will and why it is important to have one
i) My Family tree ii) Statistic about total unclaimed money
iii) What is will (and wasiat)?
ii) Why is it important to have one?
iii) What will happen if no will/ wasiat is being written?
iv) The typical time frame for Estate Administration Process (with or without will/wasiat)
v) Real case study: 24 years of delay in estate administration
vi) Legal heirs qualification and entitlement according to the Faraid and Distribution Act.

c) Legal requirements of a will (and wasiat) and it's different.
i) What constitutes a legal will (and wasiat)?
ii) How to revoke a will (and wasiat).
iii) Few real-life stories about will (and wasiat) were being invalided due to the reason of the unsound mind, witness, undue influence and etc.

d) When do you not need a will/wasiat?
i) The scenarios where you do not need a will/wasiat
ii) The fastest way to administrate the Small Estate (Muslim and Non-Muslim)
iii) The role of Amanah Raya Malaysia

e) Practical aspects of writing a will (and wasiat) and it's different.
i) Pre-Planning preparation before starting to write a will/wasiat.
ii) Discuss practical aspects of writing a professional and executable will (and wasiat).
iii) Real-life stories about missing will, Lawyer fault cause will being invalided, the simple but limited function will and fake will.

f) Limitations of will and wasiat, what other Shariah and non-Shariah Estate Planning tools available and for high net worth clients
i) What are the limitations of a will (and wasiat) and when to update it?
ii) Bried Discussion on what other Shariah and Non-Shariah Estate Planning Tools (Joint Account, Private Trust, Power of Attorney, Trust Nomination, Assignment, Lifetime Transfer, Hibah, Waqaf, Harta Sepencarian) that complement with the will (and wasiat)
iii) What is a suitable estate planning tool (Shariah and Non-Shariah) for the high net worth client?
iv) Lawsuit case about joint account, undue influence, trustee’s fee and etc

g) Estate distribution process (Muslim and Non-Muslim)
i) What is the proper process of an estate administration and distribution?
ii) What are the mistakes to avoid?

h) Available funding when someone dies
i) What and when the funding available according to used estate planning tools.
ii) Case studies on Muhammad Ali’s, Anita Mui Estate and etc

i) Summary & Q and A
i) Program summary. ii) Question and answers session. iii) Feedback/Evaluation of course

Note:
1) HRDF Claimable under SBL Scheme
2) CPE / CPD point entitlement
a) SIDC CPE – 10 points
b) FIMM CPD – 8 points
c) AICB CPD – 8 points (only applicable for AICB’s member & subject to own application to AICB's CPD Diary based on given certificate of completion)
d) MFPC CPD – 8 hours (only applicable for MFPC’s member & subject to own application to MFPC for the CDP endorsement)
Content
  • Speaker Profile-Mr. Yong Chu Eu
  • Pre Test
  • Will and Estate Planning
  • Estate Planning, Wills and Trusts Explained
  • Legal Requirements of Will
  • Practical Aspect of Will and Other Estate Planning Tools
  • Transferring Life Insurance to your Trust
  • What is Power of Attorney
  • Planning for your Digital Assets
  • Pet Trust
  • The importance of leaving a legacy
  • Leaving a Legacy - The Time is Now
  • Copyright & Reference
  • Post Test
  • Evaluation & Handout
Completion rules
  • All units must be completed