Many people may overlook very essential element in preparing their Will i.e. the appointment of an Executor. Appointing a capable, reliable and trustworthy Executor is important in writing a Will. When a person passes on, the appointed Executor is to administer the deceased estate and distribute the assets according to the Will.
If the appointed individual Executor in the Will refuses to act or become unable to act due to poor health, work or family commitment, their refusal or renunciation could lead to high cost and time consuming due to a new personal representative ie an administrator has to be appointed and chosen among the beneficiaries in the Will. The administrator will have to apply for Letters of Administration with Will annexed instead of Grant of Probate. The law also requires the administrator to provide two sureties who should have at least the same equivalent gross value of the deceased estate. This is one of the major cause of most delays in administration of the deceased’s estates because it is very difficult to find sureties (guarantors).
By appointing Rockwills Trustee Berhad as the Executor in the Will, you are assured of the professionalism and competence in the work done at a cheaper cost for the overall estate administration. If the individual Executor finds himself not suitable for the duties and decides to renounce his right, then a competent Trust Corporation like Rockwills Trustee Berhad who has the economy of scale to save cost will take over the estate administration work if Rockwills Trustee Berhad is appointed as a substitute Executor in the Will.
As a Trust Corporation, Rockwills Trustee Berhad has perpetual existence with full time legal staffs to ensure continuity in the administration process until the final distribution.