Leaving money to charity in one’s will has been gaining a lot of popularity over the years, however perpetual acts of charity like Madam W’s are very unusual.
According to the News Strait Times, a mysterious woman known as “Madam W” has been donating a portion of her multi-million estate to multiple local orphanages since her passing in 2013.
Who is Madam W?
Due to reasons of confidentiality, no one knows who she really is, but her act of charity speaks for itself. The trustee of her last will and testament, Rockwills Trustee Bhd stated that prior to her death in 2013, the generous woman specifically instructed that a portion of her 6-million ringgit (Malaysian currency) estate may be held in trust for the sole purpose of investment, and its earnings to be used to fund orphanages.
“When Madam W wrote her will, she had wished to do something with her wealth for orphans. She didn’t want to stop at distributing part of her estate for orphanages upon her demise. She wanted more than that – make her money work for the benefit of orphans.” Azhar Iskandar Hew, CEO Rockwills Trustee Bhd to NST.
Her estate plan allows her to donate money annually and without limitation of a time frame. Over the past seven years, her donations have totaled to RM1.1 million which is around 260,000 USD. CEO Rockwills Trustee Bhd told NST that this is a well-formulated estate plan that ensures wealth distribution to deserving segments of society.
The New Strait Times reported that during the trust donation presentation ceremony that was held on August 13, Rockwills Trustee Bhd CEO Azhar Iskandar Hew presented a check worth totaling RM189,304.02 -- the profit made from this year's investments. The earnings were distributed equally to 20 orphanages ,and each received RM9,465.20 benefiting a total of 1,100 orphans. Among the beneficiaries were Good Samaritan home, House of Joy and Desa Amal Jireh.
We’ve all heard stories of amazing people around the world who have given large sums of money to charity. Some people make it public while others prefer to remain anonymous. However, this type of setup is not something you hear very often. Madam’s W estate plan is very clever and admirable. Thanks to her selfless act, several local orphanages in Malaysia have been receiving funds throughout the pandemic to keep running and provide appropriate healthcare to the children.
Sources: The News Strait Times
The Rakya Post