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...
Many people have concerns about the validity of their will if their estate planner has passed away, the will company ceases to exist, or the law firm closes down. Fortunately, the validity of your will is not impacted by such circumstances. In this article, we will explain why your will is still valid, why it’s...
What Is a Residuary Clause? Residuary clause is a clause in a Will that allows the testator to dispose of the remaining assets under the estate that are not specifically provided for in the Will. It ensures these “leftover” assets are distributed according to the testator’s wishes. While drafting a will may seem straightforward, many...
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