Milking The Dead?
May 19th, 2008 by Editor
This article was reported in the NST recently. It highlights the danger of appointing your estate administrator without knowing the charges involved. Not only is are the fees among the highest, yet the services rendered is a let down.
According to Rafie Omar, who leads ARB Legacy Services, the trustee company’s will-writing and estate management subsidiary, “Our ‘rack rates’ are uncompetitive.” The ARB (Amanah Raya Berhad) can give discounts, it is through the discretion of its managing director. As reported, this discretionary reduction does not appear to be standard practice, and is not mentioned in available ARB literature.
I find it strange that it needs the managing director to give such discounts.
The full article is below.
If you can’t read this, you can download the pdf format here.
And another dissatisfied beneficiary wrote this
Lesson here is choose your will writing and estate administrator properly. Ensure any fees are mentioned up front.