A Personal Finance Blog for Malaysian: Online Will Writing Service by CIMB Bank

Tuesday, June 3, 2014

Online Will Writing Service by CIMB Bank

Will you try CIMB Clicks' online will writing service?

The following extracted from their FAQs

4. What are the fees and charges I have to pay?

4.1 Will-writing Fee
The Will-writing Fee is RM350

Exclusions
(The Will-writing Fee does not include any other fees and charges which may be payable if you choose corporate trustees (i.e. CIMB Trustee Berhad) to be the Executor for your Will, to safekeep your Will and/or to administer your estate).

4.2 If you choose to appoint CIMB Trustee Berhad for Additional Services

If you wish to appoint CIMB Trustee Berhad to be your Executor, the following additional fees are payable to CIMB Trustee Berhad:-
Appointment of CIMB Trustee Berhad as Executor RM 200
(1) Custody Fee for Safekeeping of Will RM 500
(2) Estate Administration Fee For the 1st RM1mil: 1.0% of the gross asset value p.a. Thereafter: 0.5 % of the gross asset value p.a.

(1) If CIMB Trustee Berhad is appointed as the Executor, it is compulsory for you to have the Will kept with CIMB Trustee Berhad. As such, the RM200 shall be incurred together with the RM500.

(2) The minimum amount of the Estate Administration Fee is RM5,000 p.a. It is not paid on signing up. It will be paid when the Executor commences its duty to administer your estate upon death. It is usually paid out from your estate.

If you wish to appoint CIMB Trustee Berhad to be the Custodian of your Will only,  the following additional fees are payable to CIMB Trustee Berhad:-
(1) Custody Fee for Safekeeping of Will RM500