Write a will, please
Frozen inheritance assets has reached a staggering RM90bil, with experts attributing this to a lack of estate planning among Malaysians, The Star reported today. According to official statistics, the frozen assets include properties, shares, investments, and other capital belonging to deceased persons that cannot be distributed yet due to unresolved legal or administrative matters. And if this does not pose a big enough headache, there is also the total in unclaimed money which stands at RM13bil. According to the English daily, the Accountant-General’s Department listed unclaimed money to include salaries, dormant bank accounts, insurance payouts, and deposits yet to be claimed by the rightful individuals; amounts range from several ringgit up to thousands of ringgit and more. While frozen inheritance assets involve the estates of the deceased, unclaimed money can also entail living individuals. Financial Planning Association of Malaysia general manager Puan Alice Wong said many young...