Leaving a Legacy

Wealth inheritance is like a relay race in life, passing wealth to the next generation. The success at each stage is not the end, but a new beginning of the financial management journey, which breeds one life dream after another and gives money a deeper meaning.

Leaving a legacy and inheritance

Studies have shown that 70% of retirees hope to pass on their assets to their children or other relatives.

Liquidity of assets

In most jurisdictions, when a person dies, someone has to deal with their estate (including money, property and possessions).
The deceased's assets may then be frozen until the court issues a Grant of Probate, which authorizes a designated person to administer the estate.
Only by authorizing a designated person to handle the distribution of the estate can the property of the deceased be transferred to another person and bank deposits be transferred and withdrawn.
The application process for an Adjudication can be complex and time-consuming, especially when a family is still dealing with the grief of losing a loved one and has to deal with the adjudication process.
In order to avoid adding to your family's worries and to ensure that your wealth can be passed on according to your own wishes, you need a proper wealth inheritance plan to distribute your hard-earned wealth.

Separate inheritance assets from retirement savings

Some people may think that simply distributing their remaining assets equally to their family members is an effective way to pass on their wealth. However, in some cases, it would be more effective if the wealth to be distributed and their retirement savings could be separated.

Ensure you have adequate retirement savings
No more worries about spending your inheritance
Increase the asset value of your estate through insurance solutions

Succession of family business and assets

Passing wealth and assets to the next generation is one of the most important traditional customs in Asia.
There are many types of assets, and not all of them can be easily divided equally among the next generation.
When faced with family businesses and assets that cannot be divided, it becomes difficult to distribute wealth fairly to future generations.
In this case, life insurance may be a solution and can help increase liquid assets at the time of asset distribution.

An Asset List

Property
Securities investment (including stocks, funds, bonds, etc.)
Bank account balance
Collection
Life Insurance Plan
Business assets
Tangible assets (e.g. cars, yachts, etc.)
MPF account balance

Life is like a novel, and each stage is a different chapter. We should look at the overall perspective, explore each plot in depth, and gain wisdom from it.