Will Writing Malaysia

What is a Will?

A Will is a legal document you draw up to declare your wishes for your loved ones as to how you want your assets to be distributed after you passed on.

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Why do I need a Will?

Without a Will, your assets could give more trouble than benefit to your family at a time when they are most vulnerable. Your loved ones could be involved in a long-drawn legal process or fighting in a complex legal battle with other family members.

Without a Will, the law will decide who your beneficiaries, trustees, and guardian would be. There is a legal process to go through before your loved ones can benefit from your assets. Leave nothing to chance.

Make a Will and the law will protect your wishes.

WHAT HAPPEN WHEN A PERSON DIES?

What Happen When a Person Dies?

With a Will (Dies testate) - Apply Grant of Probate (GP)e Title

The Executor appointed in the Will need to apply GP at the High Court. The GP can be obtained within 3 months to 1 year. Once the GP is extracted and all debts of the deceased settled, the Executor will distribute the estate according to the Will.

Without A Will (Dies intestate) - Apply Letter of Administration (LA)

The legal beneficiaries of the deceased's estate need to apply LA. One or two administrator(s) will need to be appointed for this purpose. Upon extraction of LA, the administrator(s) will distribute the net assets of the deceased (after settled all his debts) according to the Distribution Act 1958 (As amended in 1997).

To apply for Letter of Administration (LA)

To apply for LA, the deceased's family may need to fulfill certain requirements e.g. looking for 2 guarantors; the appointment of the administrator(s) need 100% consent from all legal beneficiaries; appointment of guardians for minors who will in-turn give consent to the appointment of administrator(s) etc, thus, this process could take 2 to 8 years and in between family contentions could occur.

WHO ARE NAMED IN A WILL

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THE PERSON

WHO IS HE/HER?

HIS/HER ROLE

Testator

A person who writes a Will

Executor(s)

Person(s) or Trust Corporation appointed by the testator to administer his/her estate.
Can be benificiary

To locate the Will
To make funeral arrangement
Apply for Grant of Probate (GP)
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Calling in assets of deceased
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To pay debts.
To prepare Statement of Accounts.
To distribute assets according to the Will.
To carry out wishes mentioned in the will.

Trustee(s)

Person(s) or Trust Corporation appointed in a Will.

If any minor, 2 Individual trustees to be appointed.

To hold on trust for beneficiaries who inherit assets in a Will.

Guardian(s)

A person appointed in a Will.

Minimum 2 guardians to be appointed.

To take care of the welfare of minor children.

Beneficiary

A person or corporation named in a Will.

To receive gifts.

Two Witnessess

A person who witness the signing of Will.

Trustee, Guardian, Executor and Beneficiary is not allowed to be Withness.

To confirm that the testator is of sound mind.

Benefits of writing a Will

To ensure that your estate and assets are given to the persons you intend to benefit.
To determine the amount of inheritance and when a beneficiary inherits from you
To make provisions for family members or friends with special needs or specific lifestyles
Ability to appoint an Executor of your choice. Your Executor can be an individual or corporation, authorised by you to deal with your assets and should be experienced, independent, trustworthy and impartial so as to ensure proper administration and distribution of your estate
To appoint the Guardian of your minor children (below 18 years of age) or special child. The Guardian will be the primary caretaker of your children who’s responsible for their well-being
To remunerate persons in conducting specific tasks stipulated in your Will, e.g. caring for your elderly parents or your children
To ensure that the distribution of your estate will be fast and efficient, avoiding possible erosion of the value of your estate

By writing a will, you can ensure that these people or institutions receive assets according to your wishes after your death.

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