When your Loved Ones Leaves a Will for You…
Probate
Grant of Probate
Grant of Probate comes into the picture when your loved ones left behind a Will with regards to the distribution of his assets & properties according to his last wishes.
Know the Basics
Grant of Probate in Malaysia
What is a Grant of Probate?
It means a grant under the seal of the High Court authorizing the executor or executors named in the Will to administer the testator’s estate.
I do not intend to be an Executor as stated in the Will. Can I renounce my rights as an Executor?
Yes, you can. Consult the lawyer to find out how to renounce your rights.
What happens after extracting the probate order from the Court?
The Executor can collect all the deceased’s assets into his possession, and settle all the deceased’s debts/ liabilities. It is advisable for the executor to advertise inviting claims in the government gazette & one of the leading newspaper against the deceased’s in respect of liabilities. The minimum time frame for creditors to submit their claims in two (2) months.
What happens when the deceased's assets are insufficient to pay the debts & liabilities?
The order of priority will be:
- Funeral, testamentary & administration expenses
- Secured creditors
- Unsecured creditors
I have settled the debts & liabilities. What do I do now?
You (Executor) shall distribute the remaining assets according to the terms of the Will.
How can I conclude/ discharge my responsibility as an Executor?
The Executor can only conclude the administration by rendering proper accounts & obtaining appropriate discharge from all the beneficiaries acknowledging receipt of their respective shares in the estate.
The Documents Checklist!!!
The Steps
01
Getting the Checklist Documents Up
02
Preparing the Cause Papers for Signing
03
attending the Hearing
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