🔄 You may want to change who gets what Relationships Change. Life events like marriage, divorce, or estrangement may affect who you want to benefit. You might want to include new family members, close friends, or even charities. 💼 You’ve acquired new assets You may have acquired new assets, such as real estate, investments,...
Many people believe that once they’ve written a will, they can check it off the list and never look back. But here’s the truth: a will isn’t a one-time document. Life changes—and your will should change with it. That’s why we’re here to walk you through real-life scenarios where updating your will isn’t just a...
Stay informed about your EPF nominations to ensure your savings are distributed according to your wishes. Here are some commonly asked questions: 1️⃣ What is the difference between Muslim and non-Muslim EPF nominations? Muslim members: The nominee is known as a Wasi (Administrator). Their role is to distribute the EPF savings according to Faraid law...
Can I nominate my minor child (below 18 years old) as my EPF beneficiary? Yes, but kindly reconsider. If you nominate a child under 18, KWSP will not release the money immediately. Instead: EPF will act as a trustee and keep the funds until your child reaches 18. A guardian cannot freely withdraw the money,...
Can the Witnesses and Testator Sign the Will at Different Times? No, they can’t. According to Section 5 of the Wills Act 1959, everyone involved—the person making the will (the testator) and the witnesses—must sign at the same time. This ensures everything is done properly and legally. Can a Beneficiary or Their Spouse Be a Witness?...
Have you ever wondered what would happen if both you and your spouse passed away unexpectedly? Who would take care of your children? Would they be financially secure? In Malaysia, children under 18 cannot inherit money or property directly, which could create serious complications for their future if proper plans aren’t in place. Let’s have...
Being an executor is a big responsibility—it’s not an easy job. They have to gather assets, handle debts, and distribute the estate properly. Because it’s such a heavy task, many people may hesitate to take on the role, even if they’ve been named in the will. Ways to Motivate an Executor to Act Since...
Case study William, who is now 55 years old, wrote his will when he was just 28. Like most Malaysians, he wonders: “Why do I need to update my will? My old one should still work, right?” Most people believe that writing a will is a one-and-done situation – you write it, stash it away,...
Case Analysis: Alan and Brenda are considering whether to transfer their property to their adult children during their lifetime or via a will. Below is a concise comparison of the differences, potential impacts, and practical considerations under Malaysian law: Category Lifetime Transfer Transmission via Will Control & Ownership • Immediate transfer of full ownership to children • Children...
Have you ever wondered how many Malaysians have no idea what would happen if a joint property owner passes away? In reality, there are many implications to consider from different perspectives, including legal and financial aspects. Case Study: Alan & Brenda – Joint Property Owners Alan and Brenda jointly purchased a property. If Alan passes...
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