Write a will

I gave this suggestion to attendees at my educational talk.

1. Write a will. It will help your family to sort out your financial affairs when you pass away.

2. If you are not sure about your final intention, you can write an interim will now and replace it with a new will later, if your circumstances change. A will can be revoked by a new will.

3. If you do not write a will, it is all right. Usually, the family members will decide on how to distribute the assets through mutual agreement.

4. If there a dispute among the family members (without a will), the estate can be distributed according to the Law on Intestacy.

More importantly, an elderly parent should involve your family members early, in managing the assets, i.e investments and properties. This allows the family members to identify the assets and manage them easlily, following the death of the parent.