Secure Trust Launching - 31/03/2023

Innovating Estate Planning: The Official Launch of Secure Trust

On March 31, 2023, CNB Amanah Berhad proudly announced the launch of our newest estate planning solution: Secure Trust.

Designed to address the critical gap in financial liquidity during emergencies, Secure Trust serves as a dedicated Cash Trust. Its primary purpose is to act as an immediate emergency fund for beneficiaries upon the Settlor’s death or Total Permanent Disability (TPD).

Why Secure Trust?

In Malaysia, the probate process can often take months or even years, leaving families with frozen assets. Secure Trust solves this by:

• Bypassing Probate: Funds are available immediately without waiting for court orders, avoiding the long delays often associated with the Probate and Administration Act 1959.
• Instant Liquidity: Providing accessible cash for medical bills, funeral expenses, or daily living costs when it matters most.
• Simple Setup: A straightforward, hassle-free trust arrangement focused specifically on cash assets.

This launch marks a significant milestone in CNB Amanah’s mission to provide comprehensive and accessible trust services to all Malaysians.

Frequently Asked Questions About Secure Trust and CNB Amanah

1. What is Secure Trust?

Secure Trust is a cash trust arrangement that helps your beneficiaries access funds when you pass away or suffer total permanent disability. The purpose is simple, our loved ones should not be left waiting for months before they can pay for urgent needs.

2. Why do I still need Secure Trust if I already have a Will?

A Will tells people how your estate should be distributed. It does not always solve the cash flow problem your family may face in the first few weeks. Bills still come in, daily expenses still continue. Secure Trust helps prepare accessible funds for that difficult period.

3. What can the fund from Secure Trust used for?

The funds may be used for urgent family needs such as funeral costs, medical bills, groceries, school fees and daily living expenses.

4. Who should consider to setup Secure Trust?

Secure Trust is suitable for anyone. If your family are relies on you, this arrangement can help reduce financial pressure when life takes an unexpected turn.

5. Is Secure Trust difficult to set up?

The process is usually straightforward. You decide the amount, name your beneficiaries and set clear instructions through the trust documents. The Trustee will then follow those instructions when the required conditions are met. The final arrangement should always be based on the official trust terms.