April 2010

The Archives

• Will Executor

  04.28.10 | Permalink |Will| Comments Off on Will Executor

  A Will Executor is some who execute the Will or the deceased wishes. It is not an easy job as he/she will need to engage a lawyer to get a court order or grant of Probate to distribute the asset in the Will accordingly.

  For any transfer of property, again he needs to seek lawyer to carry that out. By the way, any transfer of property will required legal fees or stamp duty as below.

  Legal Fees:

  •    1% on the first RM100,000.00
  •    0.5% on the next RM4,900,000.00
  •    0.25% on the remainder

  Stamp Duty:

  •    1% on the first RM100,000.00
  •    2% on the next RM400,000.00
  •    3% on the nest RM1,500,000.00 and
  •    4% on the remainder (item 32 [a] of the Stamp Act 1949)

  Above has to be paid by the executor but he/she can get the money from the Will for administrating the distribution.

  Documents required for grant of probate:

  •       Original Death Certificate of the Deceased
  •       Copy of Executor’s Identify Card
  •       Copy of All Beneficiaries’ Identify Card
  •       Original Will
  •       Deposit for legal fees

  The executor can be a beneficiary of the Will. The executor must also clear off the deceased’s debt before distributing the Will’s asset.

  In cases where there is no cash in the Will, the executor may need to liquidate the property to pay for the debt, taxes and other expenses. However, the beneficiaries may not agree to the sale of the property.

  Here is a detailed chart of the Executor Roles & Responsibilities from VitalWills.com: DutiesofExecutor.pdf

  However if you have very few properties, it is not a big problem for the Executor. If you have a lot of properties and asset, maybe you should consider a professional Executor.

  Will Act: http://www.mylawyer.com.my/law/Wills_Act.php

• Pen Your Will

  04.20.10 | Permalink |Uncategorized, Will| 2 Comments

  A Will is a written declaration of a person of things he wishes to take effected after his death or at the time of his death. At the time of his death is when one is in a coma and wishes to end his life peacefully. I am not sure whether this is legal in Malaysia, maybe not.

  A Will can be hand written, signed by the one who made the Will and signed by 2 witnesses. Witnesses cannot be the beneficiaries of the Will such as parents, spouse, children or anyone that the person puts as beneficiaries of the Will. Most important, the person must be of sound mind at the time of signing the Will.

  Well, you and I can just create a Will without paying anyone to do it for you. Just get 2 witnesses and have it signed. It will be a legal document.

  In most cases, people will seek corporation help when he/she wants someone trusted to be the Will executor. The executor is required to carry out the distribution accordingly, seek legal help to apply grant of Probate from High Court and a lot of running around. You are advised to name 2 executors in your Will, just in case the main executor either cannot carry out the duties or he/she passed away. It is not easy to become an executor if the Will is not written properly.

  I guess that is one reason why many people seek professional help and willing to pay a fee for it.

• Without A Will

  04.20.10 | Permalink |Uncategorized, Will| Comments Off on Without A Will

  I am learning on how to write a Will and doing one for the family. I have been procrastinating about it until someone asked me to be a Witness. I am also an Executor for someone in my family. Anyway let’s start with the impact without a Will.

  Without a will, here is how the assets distributed to surviving parties:

  Spouse only – 100% to spouse
  Parents only – 100% to parents
  Issues only – 100% to Issues. Issues refer to children & grandchildren
  Spouse and Parents only – 50% spouse and 50% parents
  Spouse and Issues only – 1/3 spouse and 2/3 Issues
  Parents and Issues only – 1/3 parents and 2/3 Issues
  All Spouse, Parents & Issues – 25% spouse, 25% parents and 50% Issues

  However, there is a catch. You must engage a lawyer to apply for Letter of Letter of Administration (LA) from the High Court for the distribution order to the Land Office. In order to get the LA, the court needs 2 guarantors that has equivalent amount of assets left by the deceased. The application of LA takes 9-12 months. Again here, the beneficiaries need to agree what to do with the property.

  The problem comes while applying for the LA, the parents passed away. Now the number of beneficiaries will increase because the parents’ portion will be divided to the children, meaning the deceased siblings. It will be a lengthy process moving forward.

  Above information is based on my findings, I may be wrong in certain areas as I am not a lawyer. Let me know if you spot any mistake so I can correct it.

• iPhone: Ice Tycoon

  04.18.10 | Permalink |Game, iPhone, Uncategorized| Comments Off on iPhone: Ice Tycoon

  Do you like selling ice-cream? Well now you can do it virtually on iPhone with Ice Tycoon. This is another game that I like because it tests my memory and speed. I have to remember all the ice-cream combinations of the customers’ orders.

  

  Your mission is to get the targeted sales for each level. Each time you sell an ice-cream, you get money. If you make the wrong ice-cream, you need to throw it inside the bin. That will cost you money. You also need to refill the ice-cream or the toppings if they run dry. That will also cost some money, so only refill when you need it.

  

  Believed me if you want to fill young again, do exercise your brain. This is a simple game that allows you to do that.

  Rank:

• Calling From My Notebook

  04.16.10 | Permalink |Technology, Uncategorized| Comments Off on Calling From My Notebook

  
  
  

  Finally I have set up my VOIP on my notebook. Pretty cool! Now I can call and received phone calls from my notebook. I don’t have to be in the office to pick up my office calls. Everything is redirected to my notebook. That’s the beauty of VOIP, I can be anywhere, and as long as I have a notebook plus WIFI with me…I can pick up your call.

  I wonder in the future, can my notebook cook my lunch and dinner. Well at least I can order pizza from it.

• Beware Of Scam

  04.13.10 | Permalink |Greed| Comments Off on Beware Of Scam

  Would you sign away RM18K (~USD$5.4K) on your credit card, for an investment plan with no contractual documents? I cannot believe one of my close relative did that. I smell a SCAM right away. We had to talk her out of it. It is funny that she doesn’t realize it like gotten into a spell.

  The company showed her a lot of pictures of testimonies and promised her a RM600 monthly return for life every month. They allure her into giving away the money. When someone asked the OOSIS sale person that she had no money at the end of the month to pay the RM18K, he actually advised her to borrow money from Loan Shark Ah Loong.

  I did a search using Google on this company and found someone blogging about this company too: Blogger Case

  Previously using the Scratch & Win Scam!
  I wonder how these people can live with their bad conscious of cheating old people money. Don’t they fear God who will punish them eventually?

  Anyway I would suggest to her to make a police report and go to the bank to dispute the credit card transaction right away! Beware of this company scam and spread the word around.

  If you do your math calculation, RM18K to produce RM600 per month for life, there would be a 40% yearly return for life. How do they generate that?

  On another scam, beware of “get paid to click ads”. Basically they pay u to watch ads and click ads. The scam is asking you to invest your money on your clicks. Example, you click on ads for a period of time, you get $0.01, if you invest USD100.00, and your clicks will be $10. The more you invest the more money you get back. The scam ends when you don’t get your money from your earnings.

  If you think hard, how do these companies get money to pay you? Most of the ads are repeated and I don’t believe any companies would put an expensive ad in an unknown & not established companies such as this. Again beware!

• iPhone: Farm Frenzy

  04.11.10 | Permalink |Game, iPhone, Uncategorized| 1 Comment

  
  
  

  This is another cool game, some of you may have seen this in Facebook. Now it is on iPhone. It is a game where you are given a mission on completing some farming task. It is also testing your time management and cash flow too. If you beat the clock, you get a gold or silver medal.

  I like the graphics and any kids can have fun with it. There are different animals given to you like the chicken that lays the egg, sheep that produce the wool and cow to produce the milk, of cause. The cat is to help you pick the products in the field and the dog is to prevent the big bear from killing your stuff.

  Besides the above, you need to buy equipment to turn your produce to something else. Like egg to make flour and later cake. Milk to make cheese. Wool to make thread and later cloth. Each end product can fetch you lots of money. The ultimate goal is to beat the clock and get more money.

  Oooh, I heard now iPhone has Farm Frenzy 2. Need to download this….

  Rank:

• iPhone: Finger Piano

  04.05.10 | Permalink |iPhone, Uncategorized| 1 Comment

  I always wanted to learn to play the piano when I was young. I took classes when I was 13 but the teacher was not good and he failed to teach me. Or maybe I do not have any music talent. My gal has been attending classes and I am learning from her.

  Every time I played a new song, I get the satisfaction. Of coz my gal coordination is better than me.

  Yesterday while I was surfing iTunes Apple store using my iPhone, I found this finger piano. I download the free version. I like it after playing with it. It allows me to learn play song using on a digital music keyboard. It is cool. It is easy but only thing is it uses finger. They have the PC version too.

  
  
  

  The music key will fall and you play the key on the music keyboard, the note on the keyboard will be highlighted too. You can play the entire song with your finger. Pretty cool. The lite version is free and you want more song, you have to pay USD$1.99. A good way to learn how to play music too.

  The best is that you get a full piano keyboard on your iphone to play any song you want or created. Download it to create your own music.

  Rank:

• Bad Flu Attack

  04.02.10 | Permalink |Myself| 2 Comments

  I am having a terrible flu, first day started a excruciating sore throat and headache. I slept early and next day, the sore throat was gone but my nose were stuff. I had a hard time sleeping because I cannot breathe. Headache was still on. Thank goodness, I got a MC.

  Third day, the nose is runny and stuffy but I still have to work to clear my stuff. Good thing, I can work from home.

  I still cannot breath with the stuffy nose. Then I remembered I got a bottle of nasal drop. Actually it was my children. I put a drop in each nose and miraculously it was clear. I could breathe again and slept like a log. Woke up, nose stuffy again. Sigh. Thank goodness it is Friday!