Tips for a successful estate plan
In Malaysia, estate planning per the Wills Act 1959 involves understanding assets, naming beneficiaries, seeking legal counsel, and addressing global assets.
Wills Act 1959
The challenge of keeping your Will up-to-date
Regularly updating a will is vital due to life’s changes, shifting assets, and evolving laws. Despite challenges, it ensures clarity for loved ones.
Is the law out of date compared to the modern technology and lifestyle today?
Malaysia’s Wills Act 1959 may not cover modern complexities like digital assets, e-signatures, and diverse family structures, highlighting a need for updates.
Can someone forge a Will?
Yes, it is possible for someone to forge a will, just as it is possible to forge other documents. Forging a will involves creating a fraudulent document.
Your current will may not be your final Will and Testament
Losing a family member, having a new born, buying a new property, changing your car and many other life events would change your will directly.
How not to write a Will
People are scared away from writing their own Will, not for lack of trying but for the fear of getting it wrong. Lawyers will always claim that it is a difficult task that only people in the legal profession truly understand how to write a will. More often than not with a little bit of …
The Pandemic and Will writing
The Covid-19 pandemic has produced a rise in estate planning, but not a large enough rise as we were expecting. Most Malaysians still do not have a last will and testament. Many believe that they don’t have enough in assets like money or properties to warrant a will, or that their savings will automatically go …
Validity of a Will
A will is known as “Last Will and Testament” basically because it is your last. As soon as you write a new will, sign it in front of two witnesses and date it, it becomes your Last Will and Testament. It overrides any other will you may have. Your will is automatically revoked if you …