Organise your estate: Where there's a will, there's a way!

What is a Will and do I need one?
What happened if I die without a Will (intestate)?
What are the requirements of a valid Will?
What are the advantages of having a Will?

FAQ

What is a Will and do I need one?
Will - the most important legal document in planning your estate. It controls how your estate is to be distributed and other matters that you wish to take effect upon your demise. If you do not have one, you are actually appointing the universal will maker- Malaysian Distribution Act 1958 (amended in 1997) to write one for you. Unless a person is totally agreed to the law and has no dispute against the judge's decision, otherwise, anyone who has attained the age of majority should have his/her Will written as a planning tool beyond death.

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What happened if I die without a Will (intestate)?
Actually each of us has a Will. It is either the personally written Will or the Will written by Malaysian Distribution Act 1958 (amended in 1997). If you die without having a personal Will:

• the estate distribution is decided by the law, which may go against your wishes;
• all your nearest relatives get a piece of your estate, but no one else does and no one get more than the law-allotted share;
• the appointment of the administrator must get consensus from all the beneficiary (ies);
• if your estate exceeds RM50,000, appointed administrator is required to provide two sureties by way of providing administration bond for an amount equivalent to the gross value of the estate. However, if the administrator is the trust corporation or the administrator is the sole beneficiary, then two sureties are not required;
• the appointment of guardian to your minor children is based on the judge discretion, whom the judge thinks shall be the best candidate;
• your family may fight against the court's decision. A disagreement may even break out among your family members on who gets the children and who runs the inheritance;
• the cost of applying the letter of administration is more expensive than applying for grant of probate;
• the administration period is always longer if compare to someone who dies testate (with Will).

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What are the requirements of a valid Will?
There are three requirements must be complied in order to make a valid and enforceable Will. These requirements are listed as follow:

Age
To make a valid will, you must either:

• attain the age of 18 for West Malaysia and Sarawak, or
• attain the age of 21 for Sabah

Mental State
You must be of "testamentary capacity" (sound mind) to make a valid will. The standard interpretation requires that you:

• understand the nature of the business and property that you own and have intention to dispose them;
• understand the relationship between yourself and those persons that you would like to be the potential beneficiaries;
• be able to decide how to distribute your assets
• understand the overall effect of the provision of the will

Regulation
Comply with the requirements as stated in the Wills Act 1959. A valid Will must be:

• in writing, whether handwritten, typewritten or printed
• signed by the testator at the foot or end of the Will in the presence of two witnesses
• attested by two witnesses, in the presence of the testator

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What are the advantages of having a Will?
Writing a Will has little to do with your wealth status but is everything about leaving a legacy of care and concern to your most beloved one. By having a Will:

• you have the power to appoint someone who is trustworthy and reliable to be your estate's executor and someone who can act as quasi-parent to be a guardian to your minor children;
• you can ensure your estate is transferred smoothly to your named beneficiary (ies) without any delay (such as family member can't have a consensus agreement on who to run the inheritance, search for sureties if estate exceeds RM50,000, etc.);
• your executor is not required to provide two sureties;
• you can assure your estate is distributed in accordance to your wishes and not what the law stated. Furthermore, you have total control over your Will as it is revocable during your lifetime and only the last Will shall take effect upon your demise;
• you can appoint trustee to manage trust property if you wish to park part of your estate in setting up a testamentary trust;
• you are actually doing your beneficiary (ies) a big favour by speeding up the process of estate distribution as your beloved ones may be left in a limbo;

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Frequently Asked Questions 

1. Who is a testator?
2. Who is an executor?
3. Who is an administrator?
4. Can my EPF savings be willed away?
5. Recently, I have a bought a life insurance and nominated my wife as the sole beneficiary. Do I still have to mention it in my Will?
6. Does a Will need to be stamped?
7. How many executors must I appoint in a Will?
8. Is it whatever I put in my Will will take effect upon my demise?
9. What will happen to my estate, if I die intestate (without Will) and not leaving a spouse, child or parent?
10. I just get divorced with my wife. Do I have to re-write my Will?

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