Will Writing Malaysia (Non-Muslim)
A legal document in which you declare your wishes in writing for your loved ones and how to distribute your assets after you pass on. It allows you to distribute your assets, appoint guardians for your children, and even provide for a favorite charity.
By making a Will you can choose who you wish to inherit your assets, rather than this decision being made by the laws of intestacy. You can give opportunities to others by passing on your possessions. Here are 10 of the best:-
1. Providing financial security for loved ones;
2. Making gifts of possessions and money;
3. Appointing guardians for your children;
4. Choosing your executors;
5. Avoiding inheritance disputes;
6. Creating a life interest;
7. Specifying wishes for your funeral;
8. Speed up the distribution process considerably;
9. Reduce the costs of administering your estate;
10. Express your wishes for your funeral arrangements.
Ideally, your Will should deal with all your assets, whether specifically or collectively. You may consider the following:
1. Real property: land and buildings, residential, commercial, industrial or agricultural properties;
2. Personal property: cash, bank balances, shares, transferrable memberships, vehicles, movable furniture, clothing, jewellery, books, camera equipment, computer equipment, etc.;
3. Intellectual property: copyrights, patents, designs;
4. Trust property: property which is being held by a trustee on trust for your benefit;
5. Future benefits: assets which you expect to receive in the future, including an inheritance.
Yes, your Will can include with both assets within Malaysia and abroad. In order to enforce your Will overseas, your executor may need to reseal the grant of probate in a court of the foreign jurisdiction. However, it is better to obtain specific legal advice for foreign real property because the law of inheritance varies from country to country. In certain circumstances, it may be advisable to write another Will dealing specifically with your foreign property.