What are wills all about and why do I need them? Wills may seem like a by-product of an era long ago, for rich people with lots of money and properties that need a complex legal document to sort out all their affairs long after they pass. Movies have dramatized the will process with films like Rain Man or The Descendants. Even books like John Grisham’s The Testament popularize the myth that wills are only for the rich and famous.
This couldn’t be further from reality. Truthfully, wills are legal documents designed for everybody, regardless of income or status. If you have any asset to your name, be it a house, stocks, or even a motorcycle – you should create a will!
Wills in Malaysia are defined under Section 2 of the Wills Act 1959. This act defines a will as a, “declaration intended to have legal effect of the intentions of a testator with respect to his property or other matters which he desires to be carried into effect after his death and includes a testament, a codicil and an appointment by will or by writing in the nature of a will in exercise of a power and also a disposition by will or testament of the guardianship, custody and tuition of any child”.
So what does this all mean? Simply put, a will is a legal document to express what you want to happen to your estate after death. That’s it.
People make wills everyday, all around the world. In Malaysia, there are certain requirements you must make sure to follow to ensure your will is valid and legal. It doesn’t matter if you told someone your wishes or you write it down on a napkin somewhere. If it doesn’t follow these 5 requirements, the will is invalid and doesn’t hold up in court.
The 5 requirements are:
- Testator (person making the will, you) must be minimum 18 years old in all states except 21 in Sabah.
- Testator must be of sound mind.
- testator is not a Muslim.
- Will must be made in writing and signed.
- Two witnesses must be present at the time of signing the will.
- Note that these witnesses cannot be a beneficiary of the will or cannot be your spouse. This means you must find two people that will not receive any inheritances from you to witness you signing the will.
That’s it, it’s pretty simple right? Now, I know that thinking about what happens after your death is pretty morbid and sad. However, wouldn’t you rather have peace of mind now knowing that if anything were to happen, your loved ones were taken care of? That’s why you should check out willsmalaysia.my. We offer a 1-year free trial to check out all our products and services. The best part? You can get started on making a legal will for FREE today – all from the comfort of your home!