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Personal Banking > Wealth Management > Wealth Distribution
Wealth Distribution  
Did you know:-
all of your assets becomes frozen upon demise, this includes assets held in joint name
the length of obtaining the Grant of Probate can take from 1 year up to 10 years
spouses are entitled to claim up to 50% of your matrimonial assets upon divorce
your ex-spouse is automatically the natural guardian of your young children
all the monies distributed to your young children will be handled by their guardian


Consequences of not having a Will or Wasiat…
assets will be frozen for a longer period
a Wife is entitled to only 33.33% of her husband’s assets and the balance will go to the children
the Administrator will have to find 2 sureties to act as guarantors for the Administrator
for a non-Muslim, manner of distribution will be according to the Distribution Act 1958, this follows for even accounts in joint names
if there are no natural parents, any person is entitled to apply as the Guardian of your young Children to the High Court


The facts above are usually not brought to our attention until it is too late, that is when we have to learn it the hard way. When faced with the question on wealth distribution, some usually avoid the question as they feel they do not have enough assets to distribute, or the manner of distribution is very simple and straightforward.

Regardless of whether you have accumulated a vast amount of property and assets or you consider yourself in possession of average wealth, everyone will require some form of trustee services to ensure protection and smooth distribution of their wealth. Trust arrangements vary across different individuals, ranging from a highly flexible financial plan or a confidential instrument that provides for specified beneficiaries during and after your lifetime.

CIMB Trustees Services with well trained personnel, provides strategies to help you protect and preserve your wealth across generation


Below is a suggestion table catered for different circumstances. This is not a fix formula as different people require different services
Different situations require more than 1 type of services Will & Professional Estate Administration Simple Trust
1. Simple family structure
2. Family with young Children
3. Avoid asset freezing and probate process
4. Family with disabled child
5. Complicated family structure
6. Family owned business
7. Prevent assets from falling into unintended parties
8. Prevent family members as well as public from knowing the size of your wealth and also manner of distribution
 
 


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