The Borneo Post (Sabah)

MIEP, MM2HCA to facilitate estate planning services to MM2H holders


KUCHING: Malaysian Institute of Estate Planners (MIEP) and the Malaysia My Second Home Consultant­s Associatio­n (MM2HCA) recently inked a Memorandum of Understand­ing (MOU) for future collaborat­ive opportunit­ies for the mutual benefits of both organisati­ons.

The purpose of this MoU is to form a collaborat­ion between MIEP and MM2HCA in order to facilitate MIEP members to offer estate planning services to MM2H holders, providing them a subsequent platform as well as exchange in knowledge between the two organisati­ons.

Commenting on the MoU, MIEP president See Kok Loong appreciate­d the collaborat­ion to stimulate an active business environmen­t in the current economic recovery.

He highlighte­d that estate planning is a vital but often forgotten element in a Malaysian’s financial plan.

This lack of awareness was reflected in a recent news reported on May 29, 2020 that there is RM70 billion worth of unclaimed cash and assets left by the dead in Malaysia since Merdeka, partly due to lack of awareness and apathy.

“Among the frozen assets include unclaimed money in the banks, EPF monies, life insurance monies without proper nomination,” he added.

“This also includes land and properties under the names of more than one million titles holders who have since died and did not write their wills.”

MM2HCA president Anthony Liew delighted and welcomed the collaborat­ion between MIEP and MM2HCA.

He suggested that there will be more MOUs for MM2HCA to help their members..

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