Muslims’ Integrated Estate Planning:

Responding to my Muslim lady fb friend's post in Facebook:

..nxt destination - EPF, updating beneficiaries...percentage bagian anak2 sama rata... Tats normal for wives, utamakan anak2 dulu. Hehehe
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LKC:

Please take note that for Muslim, the nominated person in EPF is ONLY an Executor, and the money is subject to Faraid distribution..

Muslims life insurance & personal accident insurance proceeds are to be distributed according to Faraid ( Section 166 of Insurance Act 1996 ); EPF same situation. Nominee = executor. Money forms part of the Estate & subject to estate creditors before distribution. therefore there is ground for Muslim to do Integrated Estate Planning & protect the future of your loved ones..

Why in EPF form no Executor appointment column?

It is deemed that the beneficiary is the executor & hold the money & do the job like an executor ( or pass the epf money to the executor appointed in your Will ) - pay debt first & then distribute Faraid beneficiaries. if children below age 18, executor of yo will will have to hold on trust until child is age 18. there need to do planning. can ... Read more & discuss further using email, more efficient. ( leekheechuan@lkcestateplanning.com ). for info on who inherit how much under Faraid,

please check out: http://maths.usm.my/faraid/eng/default.html