Estate Planning For Parents of Young Children | Rockwills International Group
Mr.Saw Leong Aun and En.Azhar Iskandar Hew from the Rockwills Group of Companies, discuss the Single Parents Trust, and advise on the unique estate planning needs of single parents and what they need to know about trusts as a tool to protect their children.
Single Parents Trust offers many benefit that other financial tools cannot provide. It is an important tools especially when your child depend on you financially.
With Single Parents Trust, you don’t have to worry about your children’s education, maintenance and healthcare, when you pass on.
They shared some important tips on Estate Planning such as:
- Why you must setup a Single Parents Trust if you are a single parent?
- The main differences between a Trust and Will
- How Can Parents, Especially a Single Parent Secure Their Children’s Future?
- Why Single Parents Trust is the best tool for estate planning?
- What are the assets that can be park under a Trust?
- The best people to appoint as a Trustee
- Why Life Insurance is the best tool for estate planning?
- How much does a Single Parents Trust cost ?
- and much more
Shocking Divorce Statistics in Malaysia
· In 2002, for every 9.6 marriages registered, there was one (1) divorce.
· In 2009, for every 6.1 marriages, there was one (1) divorce.
· While marriages increased by 21% (153,318 to 199,586) from 2002 to 2009, divorces increased by as much as 105% (16,013 to 32,763) during the same period.
· The National Population and Family Development Board Malaysia counsels 700 to 800 troubled couples a year.
· The National Registration Department registered 2,706 divorces among non-Muslims in 2002, which subsequently climbed to 5,647 in 2009.
· Between 2006 and 2009, the divorce rates mostly stagnated at about 5,000 a year. However, seven months into 2010, there were already 7,428 divorce cases registered, way higher than years before.