Whether you are an executive in Penang or a business owner in KL, the “later-lah” attitude toward asset protection is a dangerous habit. Many believe that trust services are only for the ultra-rich, but the “frozen asset trap” does not discriminate. I’ve seen families with millions in the bank where the widow couldn’t even withdraw RM50 for basic needs because of immediate legal lockdowns. Consulting a Licensed Trustee Malaysia is a practical necessity for anyone with a house or EPF, ensuring your hard-earned wealth doesn’t get stuck in a messy legal void.
Step One: Admitting that a Will alone might not cut it
While a Will provides court instructions, the Malaysian probate process often takes six months to two years to finalize. This delay creates a “Cash Vacuum” where bank accounts and properties remain frozen, leaving families unable to meet daily expenses despite their wealth. To prevent this, many establish a living trust using cash or insurance policies. In these cases, Global Asset Trustee (M) Berhad serves as an “emergency cash releaser,” providing immediate funds without waiting for court approval.
Step Two: Filtering the “Talkers” from the Licensed Professionals
This is where it gets tricky. If you go on Facebook or attend those “free wealth seminars,” you’ll find plenty of consultants promising to “protect your wealth.” But here is the catch: not all of them are actually licensed trust companies.
How to verify licensed trustee Malaysia like a pro
To be honest, you shouldn’t just take their word for it. A legitimate Licensed trust company Malaysia must be registered under the Trust Companies Act 1949. This isn’t just a random license; it requires the company to have a significant amount of paid-up capital and to be under the watchful eye of the authorities. The first thing you should do is ask for their company profile and check if they are listed as a trust company with SSM. If they look like a small “consultancy” firm with no corporate backing, be very careful. You are handing over your family’s future, so don’t be shy about asking for proof of their trust administration services Malaysia license.
Step Three: Setting up the “Safety Valve” for your family
Once a Licensed Trustee Malaysia is appointed, the process follows a clear path focused on your specific needs. It typically begins with a “Fact-Finding” session to determine asset distribution and timing—for instance, releasing funds for education monthly rather than a lump sum to young heirs. Following this, a Trust Deed is drafted as a legally binding document that the trustee must follow. The system is flexible, allowing you to amend instructions as your family or business grows.
Common Pitfalls: Where most people get stuck in the process
Many people get stuck at the “choosing an executor” part. They often think, “I’ll just put my eldest son as the trustee.” But let’s be honest: does your son know how to deal with bank managers, lawyers, and tax agents while he is grieving? Being a trustee is a job, not an honor. It involves heavy legal liabilities. Most people realize halfway through that they would rather have a neutral third party like Global Asset Trustee handle the paperwork, so the family members can just be… family. Another spot where people “get stuck” is the cost. They think it’s expensive. But if you compare the cost of a trust versus the cost of your family being sued or your assets being stuck for 3 years, the trust fee is actually a very cheap “insurance policy” for your hard-earned money.
Website: Global Asset Trustee (M) Berhad
Email: admin@globalassettrustee.com.my
Contact Number: 03-9771 5159
Address: A-13-4, Block A, Northpoint, 1, Medan Syed Putra Utara, Mid Valley City, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur
💬 What do you need to know before choosing a trust company?
Clearing up the confusion about asset protection in the Malaysian context.