What Is UBB Cash Trust and How Does It Work?
The UBB CASH TRUST is a trust that you establish in which you deposit funds that can be made available to your specified beneficiaries in the event of an emergency.
It provides rapid cash for expenses and relief during times of crisis, allowing your family to live by until the insurance pay out and/or access to your money in bank accounts following probate and will execution.
UBB Cash Trust To Access Cash
It will help your family with the fees of acquiring the Letters of Administration or Grant of Probate (mandatory legal documents) needed to unfreeze your assets (such as a bank account) after your untimely demise. This legal process will typically take more than 6 months and will be a significant strain on your family, who is already grieving. You should set up a reasonable amount in a UBB Cash Trust to cover these legal charges as well as your family’s living expenses during that time.
Cash Trust Quick Facts:
- RM 60,000 (For Malaysian)
- RM 300,000 (Non- Malaysian /PR)
- RM 500,000 (Corporate/Company)
- Tenure: 36 months