The legacy of the late Madam W was kept alive with a Malaysia Day gift of RM116,000 to 20 orphanages today.
Rockwills Trustee Bhd, acting as the trustee of the Last Will and Testament of benevolent Madam W, fulfilled her wishes at a virtual Trust Donation Presentation Ceremony attended via Zoom by representatives of the 20 orphanages.
“It is a timely Prihatin gift that shows the concern and care of Madam W for orphans,” said Rockwills International Berhad Group Chief Executive Offer Azhar Iskandar Hew.
He added that orphanages, just like other charitable organisations, have been faced with trickling inflow of donations in the current difficult economic climate wrecked by the Covid-19 pandemic and the accompanying prolonged lockdown.
“As a trustee for Madam W, we are glad to be able to make it a meaningful Malaysia Day for 1,076 children, who, having lost their parents, are provided a roof over their heads and care for their welfare by homes which are struggling with funds.”
Azhar said the 20 orphanages were today able to receive RM5,805 each through Madam W’s ingenious estate planning to Will part of her estate to be invested and use the proceeds to fund orphanages, Madam W, whose identity is withheld for reasons of confidentiality, had in a rare and exemplary recurring act of charity, instructed in her Will that a portion of her estate amounting to RM6 million be held in trust for the sole purpose of investment and its earnings be utilised for orphanages.
Azhar said it was commendable for Madam W to have the foresight to use estate planning as an effective tool for periodical injection of funds in deserving orphanages to uplift the lives of orphans.
“It is an act of charity in perpetuity that extends beyond her death. In her uniquely conceived estate plan. She cleverly made sure her money left behind worked hard to earn more money and are meaningfully used to make her wishes that the care and concern of children without parents come true.”
Entrusted with the task to fulfill her noble aspirations, Rockwills Trustee has since its appointment as trustee in 2013 put in place an operational system to execute Madam W’s instructions.
This included the establishment of an internal operations committee that comprised directors and senior management staff to see to the appropriate investment of the trust fund by selecting investment instruments with potential for steady returns on investment.
An Orphanages Selection Committee has also been set up for selection of deserving beneficiary orphanages. This committee varies the beneficiary orphanages to ensure that as many orphanages in Malaysia benefit from the trust regardless of race and religion.
About Rockwills International Group
Rockwills International Group, now in its 26th year, pioneered professional will writing in 1995 and has since evolved into the leading estate planning specialist in the country. It is today the largest provider of solutions and support services in the areas of trusts, succession, management and distribution of wealth. It has shareholders’ funds exceeding RM50 million and professional indemnity cover of RM100 million. It has done over 250,000 wills and 10,000 trusts and hold more than RM25 billion in assets under trust.