Mui-Mingpao Weekly

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Thanks to BeepBeep for the following article

Mingpao Weekly 08/27/05

 Turbulence about Anita Mui's Estate   by Lin Yin Nei

Mui fans must know that the name on the urn containing her ashes is "Anita Mui", her mother got the urn, no one ever hogged it.

The function of life insurance is very simple, the beneficiary that Anita Mui put down on the insurance policy, then that person will be the beneficiary.  Insurance company has no right to distribute the compensation according to its own decision.  Therefore even someone makes a lot of noises, the insurance company has no right to change anything under the law.

Sometimes the insurer might only put down " own estate" instead of any beneficiary, then the compensation will go to the estate trust fund. and be managed by the trustee.  The wish of Ah Mui is to leave part of her estate to be managed by the trustee.  Her wish was to take care of her mother's living expense and the education of her nephews.  If she wanted to donate to religious or charity organization, it also can also be executed.  The trustee can be a local or overseas bank.  Once the trust fund is formed, it cannot  be changed within 80 years, unless the trustee agrees to it.

Lin Yee Fai who being badly troubled is not a trustee.  He is just fulfilling his duty being a good friend of the late Ah Mui and doing voluntary work for her.  With his present income and assets, he would not be interested in Ah Mui's estate.

Though Ah Mui's intake was huge, her expense was huge too.  Also she was very generous, so the money she left is not as much as her family think.  No matter how they make noise about it, the estate fund won't increase.  Even continuing to make troubles, those who were not indicated as inheritor will not inherit anything.  Mui Ma can receive HK$70,000 per money for her monthly expense, Ah Mui is really very nice to her mother.  Also the estate trust company will let Mui Ma live comfortably till she leaves this world.

The insurance company can't  let the public see the insurance policy, only the beneficiary can see it.

I wish the trouble makers can protect the loving kindness of Ah Mui, let her have peace.