I’m sorry if this sounds morbid especially when it’s a “pregnancy” blog but this is a serious issue that we Mums and Dads have to think of.
I have been hearing too many stories of young fathers between the ages of 27-39 years old dying suddenly from heart attacks and stroke that I decided it’s time to grab the husband, sit him down and talk about writing our wills.
Call it panic if you like but after celebrating my recent birthday, I realize that we’re are getting OLDER but our kids are still so YOUNG. Scary, right?
Please don’t think that because you only own a house/apartment/flat, a car or have little money in the bank, you don’t need a will.
Did you know that when a person dies, Malaysian law freezes a person’s funds including:
- savings accounts,
- investment of any sort
until a Letter of Administration (LA) or Grant of Probate is issued. The entire process of getting that darn Letter of Administration or Grant of Probate can take more than a year!
Funeral expenses are high – I was truly grateful to hubby’s colleagues for very, very kindly passing the hat around when my father died. I was a housewife then thus their kind gesture really touched my heart. I will not forget what they have done for me.
Now, my father was an old man yet he was very anxious about procedures after he died while we were anxious about keeping him alive! He knew he didn’t have much to leave us but he still didn’t want us to go through hell after he’d gone…
I can only imagine the grief and horror a young wife with kids would go through if the husband didn’t leave a will because she will need money to pay the housing loan/rent, the car loan, money for food/clothes/milk, kindergarten fees, school books and everything else for daily life.
Furthermore, if she had to live with her family or her husband’s family, she and the kids may need to put up with the arguments or comments the family members WILL make after the funeral is over, especially when it comes to money matters. Trust me, I’ve been there.
I would hate to think of our kids going through such hell if anything were to happen to either of us. You can imagine the earful the husband’s been getting…
Will writing is like going for a tooth extraction – it’s painful but necessary.
For now, we’ve been reading this excellent article:
It’s quite a headache deciding who to write the will (most banks offer the service although you could just get a lawyer to draft it for RM300 or something), who will be the guardian (the one to take care of the kids), the trustee (the one to manage the money) and a thousand other details to fill in.
It’s got me thinking that I may want to become an independent will writer and/or financial planner. After all, more than 5 financial planners / insurance agents have suggested that I do it. I do have a lot of good (and bad) of experiences to share and advise young couples.
And it would be a meaningful job. For now, these 2 companies have got my attention:
Will need to sit the Hubby down tonight to work on the will. And that’s just the beginning!!!
Have you got any tips or experiences to share with this newbie?
- None Found