A Will is a legally binding document in which an individual states his or her wishes regarding the distribution of their estate after passing.
According to Malaysia Will Act 1959, a Will is considered binding if it meets the following criteria:
Life is unpredictable, having a Will ensures that your loved ones (parents) can inherit your assets without unnecessary delays or complications. Regardless of the size or value of your assets, they hold significance for your loved ones.
No, as long as the Will is in written form and meets the requirements of the relevant laws, it is considered valid and legitmate.
When an individual dies without a Will, they are considered as “intestate” and their assets are immediately forzen and must be distributed according to the Distribution Act 1958.
Anyone who is above 21 years old, mature, literate and they are not a beneficiary or spouse of the beneficiary in the Will.
This person, often a family member, friend, or legal professional, assumes the responsibility of managing your affairs and ensuring that the terms of your will are executed according to your wishes.
Employee Provident Fund (EPF) and Insurance policies nominations will supersede the Will as they are governed by separate Malaysian Laws.
The Residuary Estate play an important role in ensuring the remaining assets not specifically mentioned in the Will or obtain after signing the Will shall be distributed according to your wishes and not through intestacy.
No, under Section 5 of the Wills Act 1958, all Will must be in written.
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