Read here for a simple explanation of an administrator and a trustee. What is the difference between an administrator and a trustee in a will?
There are three ways to transfer the proceeds of an death benefit to the beneficiaries. It can be done thru’ wills, irrevocable nomination & revocable nomination. The method of nomination is more cost effective than having a will. My Muslim friends and clients had always face an ‘hidden risk’ when it comes to estate distribution especially… Read More
There has been two significant developments affecting the financial and estate planning for Muslims since the Muslim Financing Planning Association (MFPA) had its inaugural successful conference in July 2009 the passing of the Insurance (Amendment) Act 2009 and the amendments to Section 111 of the Administration of Muslim Law Act (AMLA) which gave rise to… Read More
I had reviewed serveral policies in my 10 over years of practice and one of the issues with insurance policies was the Section 73 of the conveyancing and Law of Property Act or commonly known as the Section 73. An insurance policy is deem to be issued under Section 73 as long as you nominated… Read More