ABOUT Rakyat Trustee
RAKYAT TRUSTEE BERHAD (202201016445 (1462142-U)) has been incorporated under the Companies Act 2016 and the Trust Company Act 1949. Our business primarily offers Will, Estate Administration, Hibah, and Trust products & services.
By using the tagline "We Are Your Legacy Protector, The Reliable Digital Trust," we continue to move rapidly along with the development of technology, and we are the first trust company to offer fully digital products and services to our customers through the trust documentation provided.
Family inheritance that is not claimed and managed has reached RM90 billion, and unfortunately, 90% of that amount belongs to Muslims, especially Malays (Utusan Malaysia, 11th Sep 2021). As a result, these inheritances are unable to support the country's economy, thus burdening the remaining beneficiaries. The issues of expensive costs and fees, ignorance of the inheritance process and procedures of estate administration, and disputes among the beneficiaries are some of the dominant causes that prolong the process. Estate Planning is the main solution to solve the above issue.
Rakyat Trustee Berhad (RTB) is offering an affordable service comprising corporate and individual trust, property trust, and iPUSAKA trust via the digital platform for all products and services in line with the government's vision.
RTB leverages various channels such as government and private agencies, financial institutions, corporations, and corporate agencies to market its products and services to the public.
Some information details questions
1.0.1 INHERITANCE
Why should you appoint RAKYAT TRUSTEE BERHAD (trust company) as the administrator?
Administrator appointment under Section 35 of the Probate and Administration Act 1959 has specified that the Administrator needs to provide two guarantors to enable them to become an Administrator and subsequently administer the estate of the deceased, except in certain circumstances. The provided guarantee needs to be in the form of a value equal to the gross value of the deceased's estate. However, a guarantor exemption is granted to Trust Companies, where they can administer estates without any guarantors.
TRUST
Individual Trust Account
Allow the Customer/Donor to provide immediate financial resources through the Trust Account to the beneficiaries/heirs after the death of the Benefactor while waiting for the Customer's/Donor's inheritance to be successfully managed and distributed as required by law.
Corporate Trust Account
Any Trust Accounts from institutions / bodies / government / foundations / clubs / companies / corporate bodies / corporations that want to provide a Trust Account, especially for the trust fund to be distributed for any particular purposes.
Property Trust
Ensuring the PROPERTIES, whether a house or land owned by the Settlor, becomes the property of the beneficiary through the concept of Trust as stated in the instructions/terms of the Trust Deed. This product is exclusively for Non-Muslim customers.
iPUSAKA
A Trust product subscribed by participants to help the heirs settle the fees and costs of the customer's estate administration through easy payment on a monthly/annual basis. In the event of the participant's death, all costs and fees of the estate administration will be settled through the participant's Trust Account. Also, if there is an excess of funds, it will be distributed to the heir/beneficiary without going through the estate administration process.
1.0.2 HIBAH
Can Hibah be CANCELLED or WITHDRAWN?
A Hibah process that has its pillars complete will continue to be effective immediately and cannot be withdrawn. However, Hibah that can be revoked are Hibah assigned by the father (including mother, grandfather, grandmother, and other relatives) to their children as long as the property is not related to other people.
RAKYAT TRUSTEE BERHAD offers Hibah services that fulfill the solutions and wishes of customers in the Estate Planning service, which are:-
ASSET HIBAH
The assets granted through this Asset Hibah product refer to estate properties, which are lands or houses.
This product allows Assets that either have mortgages or not to be granted.
2. CASH HIBAH
Offering Cash Hibah services to Grantees, whether they are heirs or non-heirs.
The Hibah will become effective immediately, and the cash will be deposited in a Trust account at RTB.
3. COOPERATIVE SHARE HIBAH
Hibah offered by RTB is Cooperative Shares, which will replace the conventional naming concept that is used as of now.
This service will require special collaboration with the related cooperatives for the implementation of this service to be in line with the Small Cooperative Law.
Rakyat Trustee Berhad (1462142-U)
Lot 1, Tingkat 24, Menara TH Selborn,
No 153 Jalan Tun Razak, 50400 Kuala Lumpur.
TEL: +603-26022722
Comments