Most people generally presume that their assets will automatically go to their loved one when they passed on.
Unfortunately, it’s not true !!!
This is because there is a legal process to follow before any assets can be transferred.
What happen when a person dies?
(refer to Diagram in right-hand side)
If no wills, besides the lengthy time consuming process, our assets need to be follow Distribution Act
(refer to Diagram in the left-hand side)
In certain scenarios & need arise, Trust will be a very useful tools to work along with wills. Trust can be by pass the probate and assets pass directly to their heirs upon death of the settlor.