Hibah Amanah ASNB Ease Claims for Heirs

We often read on the news about disputes among family members over inheritance, sometimes leading to tragic outcomes due to lack of understanding in managing the deceased's assets.

This often occurs because the assets were not managed properly by the owner while they were alive, causing disagreements among heirs that prevent them from utilizing the inherited property.

In fact, some assets lose value as they remain neglected for years due to family disputes, even though they could generate income if managed properly.

Therefore, estate planning should be done while the owner is still alive, using instruments like wills, hibah, trusts, or waqaf. Only with proper estate planning can the assets left behind continue to benefit the heirs.

Recognizing the importance of ensuring that inherited assets continue to provide benefits, Amanah Saham Nasional Berhad (ASNB) has introduced an estate management product involving unit trust investments in Amanah Saham Bumiputera and all funds managed by the institution.

Through this service, the distribution process of estate assets involving ASNB unit trusts will be faster and more efficient compared to conventional inheritance methods. With Hibah Amanah & Trust Declaration, claims for estate assets related to ASNB unit trusts can be completed in less than 30 days if all documents for Hibah Amanah and Trust Declaration are complete.

Hibah Amanah is a Shariah-compliant service that incorporates the concept of hibah (gifting out of love) and trust (where the hibah assets will be managed by a trustee before being handed over to the beneficiary after the donor's death). This Hibah Amanah facility offers an alternative to Muslim investors to expedite the estate management process for unit trust assets.

Trust Declaration, on the other hand, applies the trust concept in managing assets for non-Muslim investors involving unit trust investments.

When investors subscribe to Hibah Amanah or Trust Declaration, heirs only need to submit the relevant documents to ASNB to claim the remaining investment of the investor that has been hibah or entrusted through either of the two products.

Heirs no longer need to go to court to obtain letters of authority and probate, which usually involves a complicated and time-consuming process.

The process of obtaining these documents is part of the legal provisions for estate administration, and it must be done because all assets of a deceased person will be frozen until both documents are obtained from the court.

Even if there is a named beneficiary, the process of obtaining these documents still needs to be followed, as the named beneficiary is not the absolute heir to the assets named in their favor.

Therefore, by subscribing to Hibah Amanah or Trust Declaration, investors can help their heirs as they can avoid having to go through this complicated process, and can claim their rights smoothly, indirectly making it easier for their loved ones to continue their lives.

The foundation of Hibah is giving out of love for those who have contributed significantly to the asset owner.

Hibah can be given to anyone desired, including adopted children, friends, or relatives.

Registration for Hibah Amanah and Trust Declaration products can be done at all branches of Amanah Saham Nasional Berhad (ASNB) nationwide, and the legal fees charged for related transactions are low and reasonable.