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Will Writing
Will Writing
How We
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Will writing is one of the crucial exercise. Especially if one have specific intention of how the assets should be distributed when he passed away.
In reality, people are reluctant to write a Will because it associate the mind with one’s death.
As a result, many tend to postpone Will writing and eventually misses out this exercise.
Following FAQs covers most of the common doubts with regards to Will. Call us today and get a quote for our Will Writing services. We are ready to assist you.
What do You Need To Know About Will Writing?
What is a Will?
It is a legal document. It talks about who receives which assets and in what proportion upon the demise of the person writing it.
Why should I write a Will?
A Will saves time & cost to administer or distribute the assets. It avoids potential family disputes since the intention had been set out clearly in the Will.
What happens if I passed away without a Will?
The assets will then be distributed according to the Distribution Act 1958. It is lengthier & might get costlier at times.
The most significant implication of this would be the assets distribution will not go according to your wishes or needs of the family members. It will get complicated as well.
What is the validity period of my Will?
The Will remain valid until and unless you revoked it or replaced it with a new Will. It will be automatically revoked upon you getting married or re-marry or converted to Islam.
Who can be my Executor?
You can appoint anyone who is above 18 years old or a trust company.
Can the Beneficiary of my Will be Executor simultaneously?
Yes. In normal circumstances, you can appoint your spouse or child to be the executor.
How many witnesses I should have for my Will? Can the Beneficiary be my witness?
There must be 2 witnesses. Beneficiary cannot witness the Will.
Why should I write a Will?
A Will saves time & cost to administer or distribute the assets. It avoids potential family disputes since the intention had been set out clearly in the Will.
What are the responsibilities of the Executor?
- Locating the Will
- Applying to the Court for Grant of Probate
- Calling in the assets
- Paying off the liabilities
- Distributing assets according to the Will
- Preparing statement of account
Can I include foreign properties in my Will?
Yes. The executor would be required to re-seal the grant of probate in order for it to be enforceable in that particular country.
Can I enforce my Will in Malaysia if it is made in oversea?
Yes. The executor will be required to re-seal the grant of probate in order to distribute the assets according to the Will.
What happens if I missed out certain property/assets in the Will?
Yes. The executor will be required to re-seal it. It is advisable to have a residuary clause in the Will to cover the assets not specified in the Will. Otherwise, you may need to execute a new Will or amend it accordingly. he grant of probate in order to distribute the assets according to the Will.
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