Professional Executorship & Estate Administration

It is hard to trust anyone to look after my assets when I am not around.

When you wish to write your Will, the key questions to ask are:

> Who will get what and how best to provide for your beneficiaries?
Who do you appoint as Executor and is that person qualified to be the executor of your estate?
Can you trust this person with everything you have and will he/she be always there for your beneficiaries?

Understandably, you may want to appoint someone close to you as the executor. However, selecting an individual to manage your estate may do more harm than good, apart from the risk of loss from misuse or mismanagement. The executor will be required to deal with various tedious and time consuming legal, taxation, accounting and administrative matters beginning with the application for probate, attending court hearings, preparing reports, etc. until the distribution according to the instructions in the Will. The process can get very complicated.

Rockwills Trustee – Your No.1 Choice

As a trustee company, we have the experience, the expertise, the impartiality and the checks and balances that will make the estate distribution a smooth process for your loved ones.

WHY CHOOSE ROCKWILLS TRUSTEE AS YOUR EXECUTOR? Rockwills Trustee Individual
Legal knowledge of various legal issues Yes unknown
Professionalism, Expertise and Experience Yes unknown
Perpetuity and Continuity in administering the estate Yes No
Time to manage and administer the entire estate Yes No
Impartiality and Security Yes unknown
Trustworthiness and Accountability Yes unknown
Professional management skills Yes unknown
Professional indemnity Yes No
Convenience Yes No

In the process of estate administration, the role of executor is very important. Do not know who to appoint as executor? Refer to the table below on pros & cons of appointing different individuals as your executor.

Executor


Issue

Individual Lawyer Trustee
Company
Bank-
owned
Non-bank
owned
RWT
(Licensed Trustee
Company)
Continuity in executor role X-illness,
incapacity,
senility,
death
X-illness,
incapacity,
senility,
death
Continuity in business May no longer
be in practice
? May discontinue
this service
May discontinue
this service
 Competency  –
competent
may not be
experienced
May not have the
experience
as executor
? ? ?
Experience ? ? ? ?
Commitment ? ? ? ?
Confidentiality ?
Security – safe from loss or damage? ? ? ? ? ?
Traceability – for asset  discovery, rent recovery, etc ? ?
Accountability – accounting and tax ? ?
Internal controls – to minimize fraud and errors? ? ? ? ? ? See our corporate
governance
structure
Cost – expensive? Allowed
under law
to charge up
to 5 %
? Ranges
from
1.5% to
1.4%
1.5% to
1.4%
1.5% to 2% See table 0.5% to
1.8%
Speed? ? ? ? ? ? Internal monitoring
to minimize delay
Heart – not caring enough? ? ? ? ? ? Many instances of
extra mile
Financial safety – assets kept separate from own? ? ?
 

Financial safety – what if bankrupt?

? ? ? Banks
may also
fail. The asset will go
to another
licensed
trust
company.
The asset will
go to
another
licensed
trust
company.
Over 2 decades, strong
balance sheet,
strong
shareholders,
trust assets go
to another
licensed trust
company.
Comprehensive? x x ? x x √ Will, custody,
trustee services,
trust/ estate
administration,
bereavement
care, offshore
services &
estate planning
advice.

Before you set up a trust, you need to be aware of anti-money laundering regulations.
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Enquire online now for more information

We will help you every step of the way
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