In a statement released today, the region’s largest will-writing and will custody services company reported a 35% year-on-year hike in the number of wills written in this year’s first quarter.

Group CEO Azhar Iskandar Hew said the strong performance came on the back of greater awareness and realisation on the importance of estate planning, which is crucial for a person’s overall wealth management and financial planning.

“The current challenge for the estate planning industry is not so much educating the public on the need of a will or trust…but addressing the public’s tendency to procrastinate the process.

“The Covid-19 pandemic did help to stress on the fragility of life and in the process, spurred more (people) to act and plan ahead to safeguard the future of their loved ones,” Azhar said.

The group attributed the increased public awareness to its own foresight to roll out expansion initiatives such as setting up more branches locally and abroad.

Rockwills also caters to Malaysian businessmen with cross-border businesses and investments – ranging from China, India, Vietnam, Singapore, Australia, New Zealand, the United Kingdom, and the United States.

“Overseas investments bring a different set of challenges. It is extremely important for Malaysians with foreign investments and properties to have a foreign will prepared by experts on the ground to ensure compliance of the local laws for speedy execution of their probate,” Azhar said.

Looking ahead, Rockwills will focus on its education initiatives to raise awareness on estate planning for all age groups.

The company has been working to promote various innovative products, such as digital assets and pets in wills and trust, in order to capture the younger generation.

Since its incorporation in 1995, Rockwills has written more than 300,000 wills and 16,000 trusts, and holds more than RM25 billion in assets under trust.