Understanding the writing fees in Malaysia helps you make informed decisions about securing your future.
Knowing the costs upfront empowers Malaysians to take the next step in creating a will with peace of mind. Securing your family’s future and protecting your assets with a professionally drafted will provide long-term security.
Finex & Co., a trusted will writing company in Malaysia, offers clear, transparent pricing, ensuring you understand exactly what you’re paying for without any hidden surprises.
Let’s break down how these fees work, so you can plan effectively for what lies ahead.
Key Takeaways
- Understand the key factors to make an informed decision about your will writing costs.
- Get a clear idea of the pricing structure so you can plan your estate accordingly.
- Be aware of potential hidden costs to avoid any surprises.
- Choose a trusted provider for transparent pricing, expert advice, and complete estate planning support.
What Affects the Will Writing Price in Malaysia?
The will writing price in Malaysia depends on several factors that can influence the complexity of your will.
Each of these elements contributes to the cost, helping you to make a more informed decision about the service you need.
1. Complexity of Your Estate
The more assets and details involved, the more time and expertise needed to draft your will. Each asset (such as property, savings, and business interests) adds a layer of complexity that may influence the fee.
A simple will with a few assets will generally cost less, while a more detailed will with complex instructions will require a more in-depth approach and higher cost.
Learn more about what is estate planning in Malaysia and understand how thoughtful planning can safeguard your assets and ensure your loved ones are taken care of.
2. Special Provisions and Customisation
If you include special instructions, like setting up trusts, making unusual arrangements that required tailored drafting, or adding business succession clauses, it adds more detail to your will.
While this customisation ensures everything is in line with your wishes, it can also increase the cost.
3. Professional vs. DIY Wills
A DIY will may seem cheaper, but it comes with the risk of missing important details or not meeting legal standards.
A professional will-writing service gives you confidence that your will is properly drafted and legally valid, based on the Wills Act 1959, providing peace of mind that your wishes will be upheld, though the cost will naturally be higher.
What Is the Cost of Writing a Will in Malaysia?
The will writing cost in Malaysia can vary depending on the complexity of your estate and the specific services you require.
Knowing the different fee structures available allows you to make a well-informed decision and ensure your assets are protected without any surprises along the way.
1. Flat Fee
A flat fee is a simple, fixed price starting at around RM500. It covers the basic will drafting, including some legal advice and document preparation.
This option works best for those with straightforward estates and clear instructions.
2. Tiered Pricing
Some firms offer tiered pricing, where the fee depends on the level of complexity in your will. With tiered pricing, you get packages that vary in detail and scope:
- Basic package: standard will with few assets, no special provisions
- Advance package: more assets, specific wishes or special provisions
- Premium package: involves complex estates, multiple beneficiaries, trusts, or testamentary trusts
3. Add-On Charges
In addition to the basic fee, there may be extra charges for services such as storing your will or making updates.
If you appoint an executor through the service, there may be additional costs associated with that as well.
For example, secure storage is a one-off fee, starting from RM1,500.
4. Law Firm vs. Will Writing Services
While law firm services offer comprehensive, legally binding wills with the added assurance of expert legal advice, they tend to be pricier. It usually starts around RM1,000 and goes up depending on the complexity of your estate.
On the other hand, will writing guidance provided by non-legal professionals are typically more affordable but may not offer the same level of legal expertise or guarantee that your will fully comply with the Malaysian law.
Hidden Costs in Will Writing: What You Need to Know Before You Commit
Create a will is an essential step, but did you know there are hidden costs that could surprise you down the road?
Here are the most common hidden costs to watch out for:
1. Annual Will Storage Fees
If you opt for secure storage of your will with the service provider, there may be an annual fee for safekeeping.
This usually ranges from RM50 to RM150 per year, depending on the service provider and the level of security.
2. Amendment Charges
Situations change (such as new assets, updated family dynamics, and a shift in your wishes) and so should your will.
Amendments or updates to your will may incur additional charges. These fees ensure your will remains current and legally sound as your circumstances evolve.
3. Executor Service Fees
If you choose to appoint an executor through the will writing service, an additional fee may apply.
The fee covers the legal support and guidance required to administer the estate properly.
While the executor’s fee may be included in some packages, it’s important to check if it’s an add-on service.
4. Probate Application Fees
While will writing services may cover the drafting of your will, the grant of probate process (the legal process of proving the will’s validity) is a separate cost.
The application for probate and related legal fees can add up, depending on the complexity of the estate and whether you need professional help to navigate the process.
5. Real-Time Inventory Update
If you choose to use the real-time inventory update service to keep track of your assets, it usually comes with an extra charge.
This service helps your executor manage your estate more easily, but it’s typically an add-on, not part of a basic package.
Knowing about these extra costs upfront allows you to plan better and avoid surprises when finalising your will.
5 Tips for Finding the Will Writing Service in Malaysia
Selecting a will writing service in Malaysia is a key step to making sure your wishes are respected and your future is protected.
Here’s what you need to know based on considerations to make the right decision:
1. Clear Pricing
It’s important to go with a service that’s upfront about costs. No one wants hidden fees popping up later, so look for transparency in pricing.
2. Professional Expertise
Make sure you’re dealing with experts who know their stuff. A lawyer or legal professional is ideal to ensure everything is done right and according to the law.
3. Range of Services
Check out what’s included in the service. Some places might offer extra options that are useful, depending on how complicated your estate is.
4. Reputation and Reviews
Word of mouth goes a long way. Look for a service with good reviews or get recommendations from people who’ve used them before.
5. Customer Support
Estate planning doesn’t stop when the will is written. Find a service that’s there to help with updates and any changes down the road.
What’s Included in Finex & Co.’s Will Writing Services?
Our approach helps you manage your estate smoothly, ensuring that your wishes are honoured and your loved ones are well taken care of.
Here’s what you’re getting for the price*:
| Service | Description |
| Drafting & Legal Advice | Our legal team ensures your will complies with the Wills Act 1959 and provides comprehensive advice to guide your decisions. |
| Customisation for Your Estate | Tailored clauses for family members, trusts, or specific asset instructions to ensure your wishes are fulfilled accurately. |
| Executor Legal Support | Guidance for executors during the estate administration process, ensuring they manage your estate correctly. |
| Will Reading Service | A professional service to read and explain the terms of your will to beneficiaries, promoting clarity and avoiding disputes. |
| Real Time Inventory Update | We keep track of your assets and ensure your records are always up to date, making it easier for your executor to manage the estate. |
| Will Storage | Secure custody of your will, ensuring it’s protected and accessible when needed. |
*Note: Some services, such as executor legal support, will reading, and real-time inventory updates, and will storage are offered as optional add-ons. These are tailored to fit your needs based on your estate’s complexity.
Discover how will writing in Malaysia can be made simple and stress-free with Finex & Co.
Secure Your Legacy with Finex & Co.’s Will Writing Services
Finex & Co provides transparent pricing with a clear breakdown of all costs, so you know exactly what you’re paying for.
There are no hidden charges, offering you peace of mind throughout the entire will writing process.
With our personalised advice, your will is tailored to meet your unique needs. We also offer secure storage options to keep your will safe and easily accessible whenever required.
Plus, our full estate planning support ensures every aspect of your estate is carefully planned and protected.
Contact Finex & Co. today to get started and secure your legacy.
