Question
T1. a corporate lawyer, and T2, an imam at a local mosque are the trustees of Zaki Family Trust [ZFT]. Zaki had passed away ,
T1. a corporate lawyer, and T2, an imam at a local mosque are the trustees of Zaki Family Trust [ZFT]. Zaki had passed away , leaving a life interest to his widow Najwa with the remainder to Aadil, 15 yo and Nazli, 20 yo in equal shares. The subject matters of the trust is a family home in bukit Ampany, a flat in ampang indah, and an apartment in Fraser hill, a collection of silver coins worth RM100,000 and 1000 shares in Mayventures Sdn Bhd,a private company which provides inbound tour packages and RM 500,000 in a Tabung Hai, savings account.
After traditional prayers, for the soul of zaki, T1 and T2 arranged a meeting with all of his beneficiaries, Najwa wished to keep occupying the family home where they had a wonderful time experiencing the birth of the boys and their upbringing. This feeling was shared by the boys. She also told the trustees that it was the practice of zaki to use the dividend from tabung haji to treat the whole family on umrah every two years and it was her strong desire to carry on this form of ibadah
Aadli told the trustees that he is very interested in robotics, a weekend course is priced at RM2000, he would like to know if his father's assets could be used to sponsor him on the course.
The flat is let to Ahmad, Zaki's friend from primary school days. The monthly rent of RM350 has never been reviewed. The apartment is unoccupied, Although the family used to spend their holidays regularly in Fraser hill, this practice ceased five years ago due to zaki's medical condition.
Advise the trustees on the management of the trust properties and to what extent they could comply with the wishes of the beneficiaries.
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