This is a topic that not many will converse over the dinner table with your family, it will never be an “opening topic” or and “ice breaker” it will always be the “please don’t talk about this, I am not ready” topic. For some, it will be the conversation that will help others prepare for their families future. The thing that I always wonder is what is required? What will a will cover? Well, you have heard the saying “when there is a will, there is away”. Yes, you heard that right. When there is a WillsMalaysia , there Will be a way.
What is a will?
Section 2 of the Wills Act 1959 (Act 346) a will is a legal document which includes all of the testator’s intentions to allocate their assets after their death.
The Wills Act 1959 in Malaysia is applicable only to non-Muslims, since Muslim inheritance is governed under the Syariah law.
What is required?
- At least 18 years old (21 years for Sabah)
- Be of sound mind
- Have the Will signed and witnessed by at least two witnesses who will then sign in your presence and in the presence of each other
What are the inclusions in a Will?
Ideally, your Will should include all your assets:
- Immovable asset: land and buildings, residential, commercial, industrial or agricultural properties/lands;
- Moveable asset: cash, bank balances, shares, transferable memberships, vehicles, movable furniture, clothing, jewelry etc;
- Intellectual property: copyrights, patents etc;
- Trust property: property which is being held by a trustee on trust for you;
- Inheritance: assets which you expect to receive in the future.
At WillsMalaysia, writing your will is an easy process. All you have to do is answer the questions, fill in any relevant details, and your will is formatted to the legal specifications, as required by the Wills Act 1959. Any questions you have about this process will be answered by our handy MyLastWill™ wizard. The will then needs to be printed and signed in front of two witnesses to be legally binding, under Malaysian law, after which it becomes immediately effective.