Personal Legacy Information Management System for Muslim in Malaysia: A Preliminary Design

Abstract

There is an alarming amount of frozen and unclaimed assets in Malaysia. Among the factors that contribute to this situation is the failure of the decedent to leave a will to the heirs of the estate or to leave the important documents necessary to initiate the distribution of the estate. This lack of preparation will inimitably put the heirs in a difficult position because they will have to spend their time and money to search and collect all related information and documentation related to the estate to assist them in liquefying and distributing the assets. With the advancement of information technology, there are information systems that had been built to manage and plan the estate of individuals. However, these systems have limitations and are unsuitable to be implemented in Malaysia because of different laws and procedures. Therefore, this paper proposes a personal legacy information system that will allow the owner to manage information such as assets, debts, wills and personal secrets, in a single platform. In addition, the owner can keep related documents to the information that are required for asset planning and distribution, especially in the Malaysian context. The owner can appoint a trustee(s) through the system and all information will be released by the system to the trustee when the owner dies. By applying encrypted communication, the legacy data will be kept secure. Static analysis is described at the requirement level for specifying the functional requirements of the system, using Z Specification. We hope that the proposed system will help mitigate the issues surrounding the problem of frozen and unclaimed assets