PETALING JAYA, 13 August 2020 – Nearly RM190,000 was distributed to 20 orphanages today to fulfill the wishes of a kind generous woman who willed that part of her estate be invested and the proceeds,  fund and uplift the lives of orphans.

Rockwills Trustee Bhd, acting as the trustee in the Last Will and Testament of the testator, presented proceeds totalling RM189, 304.02 to the 20 selected orphanages in a Trust Donation Presentation Ceremony held at its office in Menara AmFirst here.

As the proceeds were distributed equally, each of the 20 orphanages received RM9, 465.20, benefitting a total of 1,100 orphans. [Please see list of orphanages.]

In this rare and exemplary recurring act of charity, the testator, who will be known as Mdm W for reasons of confidentiality, is still benefitting the underprivileged even years after her demise.

Rockwills Trustee Chief Executive Officer Azhar Iskandar Hew said at the presentation ceremony that Mdm W instructed in her Will that a portion of her estate amounting to RM6 million is to be held in trust for the sole purpose of investment and its earnings be utilised to fund orphanages.

“Since 2013 when Rockwills Trustee was appointed as trustee, a total of over RM1.1 million has been distributed, each year to about 20 orphanages,” he added.

Azhar said Rockwills Trustee is pleased to be entrusted with the noble responsibility to execute the uniquely conceived estate plan. 

Rockwills Trustee has an internal operations committee comprising directors and senior management staff to make sure that Mdm W’s trust fund is invested in appropriate investment instruments giving a steady return annually without jeopardising the capital placed into the trust. It too ensures prudent selection of beneficiary orphanages. This committee varies the orphanages selected to be beneficiaries to ensure as many orphanages in Malaysia benefit from the trust regardless of race and religion. 

Azhar said while willing for charity has become increasingly common in recent years, such perpetual acts of charity like that of Mdm W that is carried out annually and without limitation of a time frame is not common.

“It is an example of a well formulated estate plan to be considered and followed. It underscores that wills and trusts can be effective and versatile estate planning tools for wealth distribution to not just loved ones but also deserving segments of society.”                                                                                                                                                                       

He added that in encouraging this, Rockwills has in 2008, set up a Will for Charity panel in which Rockwills has a strategic alliance arrangement with charities to be listed for testators to select to will any portion of their estate. 

“In this way, Rockwills is playing its part to encourage a higher purpose by setting aside part of each person’s estate for worthwhile causes,” he said.

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