03/05/2020
Tomorrow is not promised.
The Malaysian Movement Control Order (MCO) has been in force since March 18, 2020. Its purpose to slow and contain the spread of Covid-19 is unprecedented in living memory. The restrictions imposed has cast a shadow of uncertainty over most aspects of daily life, but this may be the catalyst to confront issues that we like to avoid; such as our own mortality.
Globally more than 3.3 million people have been diagnosed with the virus more than 245,000 have perished, meanwhile in Malaysia more than 6000 confirmed cases more than 100 deaths to date.
These catastrophic projections are now compelling people to act on long-deferred intentions to get their affairs in order. No one is immune. Legal experts are urging everyone-- not just the elderly and not just the wealthy -- to protect their families and put their end-of-life plans in writing
A plan, including a last will and testament or trust that spells out what happens to your assets and who will be guardian to minor children upon your death, would guarantee peace of mind. It would also spare your family from conflict and future heartache, should you put your affairs in order and not leave your fate in limbo. Pandemic or no pandemic, the importance of having a will cannot be underestimated.
To begin, it is crucial to figure out who you would like your assets to go to, who should look after any children under the age of 18 and who will be your power of attorney or health-care directive, then seeking professional advice. Now would also be a good time to revisit the beneficiary information on your life insurance and retirement accounts — such as EPF (Employees Provident Fund) and pension schemes— to ensure they are up-to-date.
These are unprecedented times and whilst thinking of our own mortality may be difficult and frightening, it however is essential to consider how vulnerable we all are.
We at Sidhu & Co wish you and your loved ones health and safety.
