a) Belinda had recently quit her job to pursue her own interest to open a bakery...

 

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a) Belinda had recently quit her job to pursue her own interest to open a bakery shop. Her husband, Thomas, is a financially independent engineer. They have an 8-year-old son, Bryan, and a 12-year-old daughter, Jamie. Belinda's parents are still healthy and live on their own. Recently, one of Belinda's customers had mentioned about the importance of having a Will and made her realizes it is time for her to do her estate planning, beside wealth protection and wealth accumulation. Belinda discussed with Thomas about having a will and they both agreed that most of their assets will go to the children with certain limitations to prevent them from misusing it. Belinda also wants to ensure her parents are taken care of at least with proper accommodation. Belinda's asset summary is as follows: Asset A double storey house jointly-owned with Thomas An apartment where her parents are staying Cash & Investment Life Insurance As a estate planner, how do you advise Belinda? b) Briefly explain THREE (3) situations that can revoke a will. Value RM750,000 RM450,000 RM150,000 RM500,000 (20 marks) (6 marks) a) Belinda had recently quit her job to pursue her own interest to open a bakery shop. Her husband, Thomas, is a financially independent engineer. They have an 8-year-old son, Bryan, and a 12-year-old daughter, Jamie. Belinda's parents are still healthy and live on their own. Recently, one of Belinda's customers had mentioned about the importance of having a Will and made her realizes it is time for her to do her estate planning, beside wealth protection and wealth accumulation. Belinda discussed with Thomas about having a will and they both agreed that most of their assets will go to the children with certain limitations to prevent them from misusing it. Belinda also wants to ensure her parents are taken care of at least with proper accommodation. Belinda's asset summary is as follows: Asset A double storey house jointly-owned with Thomas An apartment where her parents are staying Cash & Investment Life Insurance As a estate planner, how do you advise Belinda? b) Briefly explain THREE (3) situations that can revoke a will. Value RM750,000 RM450,000 RM150,000 RM500,000 (20 marks) (6 marks)

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a As an estate planner I would advise Belinda to engage a professional estate planner or a lawyer to ... View the full answer