AL WASITAH INHERITANCE MANAGEMENT SERVICES
Through the blue ocean strategy frameworks, Wasiyyah Shoppe Berhad has successfully introduced Al Wasitah, an innovative ground breaking estate administration services, the first and only of it’s kind in Malaysia.
The normal practise in the industry, if a professional third party is appointed to execute the estate administration process, a fee up to a few percentum from the gross estate value will be charged to the estate or to the heirs.
Upon demise of an Al Wasitah client, Wasiyyah Shoppe Berhad will provide personalized services and assist the heirs to go through all estate administration process without charging any service fees*. The heirs only need to bear the statutory costs charged by the relevant authorities. Wasiyyah Shoppe Berhad is the only trustee company in Malaysia that provides such services.
*terms and conditions applied.
4 REASONS WHY AL WASITAH IS VERY BENEFICIAL FOR HEIRS
Complicated estate administration process
Upon demise of a muslim, their heirs will need to undergo both Shariah law process and Civil law process in order to claim the deceased estates. Shariah court’s jurisdiction including issuance of faraid certificate and determining the rights of related parties via will, hibah or claim on matrimonial assets. Civil law jurisdictions entails powers of Amanah Raya Berhad, Small Estate Distribution Office and Civil High Court. More than often, the heirs will find the processes involves complicated and difficult to comprehend.
Expensive estate administration fees
According to section 43 Probate and Administration Act 1959, any parties acting on behalf of the heirs to execute the estate administration process can charge up to 5 % from the gross estate value of the estates as their estate administration fee. This fee is not inclusive of other disbursement fees that may be incurred along the process.
In most cases, the heirs facing time constraints due to career, personal life and family life. They do not have the luxury of time to take the initiative to visit all the relevant government agencies to complete the documentation’s requirement to apply for the estate administration process.
Dispute among heirs
Another challenge to the estate administration process is dispute among heirs that may arises due to lack of knowledge in relation to faraid law and hukum of estates in Islam. Dispute may prolong and increase the cost of the estate administration process not to mention severity to the heirs relationship
SERVICE SOLUTIONS PROVIDED
Wasiyyah Shoppe Berhad introduces AL WASITAH estate management services for Malaysians.
With a payment as low as RM 1.67 * per day, this service provides benefits to customers during life and benefits to heirs after the death of customers.
SERVICES PROVIDED FOR AL WASITAH CUSTOMERS DURING THEIR LIFETIME
Preparation of Executor Appointment Document
Preparation of 1/3 Islamic will
Change of document service
Document safekeeping service
SERVICES TO THE HEIRS AFTER THE DEMISE OF AN AL WASITAH SUBSRIBER
For heirs of valid Al Wasitah subscriber, Wasiyyah Shoppe Berhad will provide services as follows :
Personalize consultation service
Upon informed by the heirs, Wasiyyah Shoppe Berhad will send it’s legal officer to the heir’s home or at any agreed location, to give a personalize estate administration consultation to all heirs. The consultation includes on hukum of estates in Islam, the faraid division, the responsibilities of heirs and explanation on the estate administration process that the heirs will need to go through. The thorough explanation will eliminate any ambiguities on the estate issues and the heir’s rights.
Services of obtaining land search from land offices
Official land search is one of the compulsory document needed to be tendered together with the estate administration process application either at Civil High Court ( for estates valued more than RM 2 million ) or Small Estate Distribution Office ( for estates valued less than RM 2 million with immovable assets ) . Wasiyyah Shoppe Berhad will assist the heirs by making the official land search for a maximum for 3 tittles at relevant land offices.
Assisting the heirs during trial
Wasiyyah Shoppe Berhad’s legal officer will be attending the trial together with the heirs to advise them on the procedures.
Appointment of panel lawyer for Civil High Court cases.
For cases of Civil High Court ( estates amounting more than RM 2 million ), Wasiyyah Shoppe Berhad will appoint it’s panel lawyer to manage the case. Appointment of lawyer expert in probate law enable the case to be managed efficiently and timely.
Guidance for the heirs until the relevant orders obtained.
For both Civil High Court and Small Estate Distribution Office cases, Wasiyyah Shoppe Berhad will assist the heirs up until the Grant of Probate and Distribution Order (for Civil High Court ) and Surat Kuasa Mentadbir and Perintah Pembahagian ( for Small Estate Distribution Office ) has been obtained.
*All the services listed will be given FREE** for the Al Wasitah subsriber’s heirs if the subscription is still valid at the point of demise.
**Terms and conditions applied.