PETALING JAYA: Newly formed Malaysian Institute of Estate Planners (MIEP), which obtained approval from the Registrar of Society on June 16, 2021, is calling on estate planning practitioners to sign up as members.
The objectives of the institute are to develop the profession through education, establishing standards as well as self-regulation via a disciplinary board to ensure the protection of public interest. MIEP also aims to work with the authorities and regulators to ensure its members are in compliance with the country’s law.
“Estate planning is a multidisciplinary professional practice that involves legal, tax,
insurance and trust. It should be an independent profession on its own and therefore it should have its own institution to promote the professional practice.
“Therefore MIEP was formed with the group founding members consist of will writing consultants, lawyers, trust consultants, representative from trustee company, tax agents, accountants, unit trust consultants, insurance agents, real estate agents, banker in wealth management and company secretary,” MIEP said.
For new members, it seeks those currently involved in estate planning from will writers, trust consultants, estate planning lawyers and tax agents involved in family tax planning.
Associate members are those related to the estate planning industry but not directly in the estate planning process, such as funeral service consultants, insurance agents, real estate agents, bankers, unit trust agents, financial planners.
MIEP said the programmes it aims to undertake in the near future are education, including a certification in estate planning, an annual estate planners convention targeted for 2022, as well as an annual award for the profession targeted for 2023.
For the initial two years, from 2021 to 2023, MIEP will be headed by See Kok Loong, who is the CEO of Metro Homes Realty Bhd, as president.