Rockwills Trustee Bhd, acting as the trustee of the Last Will and Testament of a certain anonymous donor who only wished to know as Madam W, fulfilled her wishes at a virtual Trust Donation Presentation Ceremony with 20 orphanages.
Her wishes were to give some of her wealth to orphanages after her demise and keeping true to her wishes, during Malaysia Day these 20 orphanages received RM116,000.
Group CEO Azhar Iskandar Hew added “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.”
The proceeds went to 20 orphanages each receiving 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 her 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.
