Adding Account Assets

How To Add Account Assets

To add account assets for your client in the Legacy Planner system:

1. Navigate to the "Account Assets" section

2. Enter the account number (mandatory)

3. Specify the institution (e.g., KWST for a regular saving fund)

4. Enter the estimated value of the account

5. Click "save" to record the account asset

Important: The account number is crucial for the executor to identify the specific bank account intended for the beneficiary, especially if multiple accounts exist.

FAQ - Account Assets

• Is it necessary to enter the account number?
  Yes, it is mandatory to key in the account number. This helps the executor correctly identify the intended account for the beneficiary.

• What if my client has multiple bank accounts?
  Entering the specific account number for each asset ensures clarity for the executor regarding which account should be distributed to which beneficiary.

• Can SOCSO Benefits Be Distributed Through a Will?

  Generally, it is not necessary to mention SOCSO in the Will. SOCSO benefits are statutory benefits governed by the Employees’ Social Security Act 1969 and are paid directly to the worker’s dependents as determined by SOCSO. These benefits include the worker’s benefit, funeral benefit, and survivor’s benefit allowance, which are paid directly to the eligible dependents. As such, they are not subject to distribution under the Will, and including them in the Will has no effect.