In the realm of estate planning, the drafting and safekeeping of a Will are critical aspects that demand careful consideration. A Will serves as a legal document that outlines a testator’s wishes regarding the distribution of their assets after their demise. One often-overlooked aspect of this process is the custody of the Will, which carries...
The role of an executor is of paramount importance in ensuring the smooth administration and distribution of a testator individual’s estate. In Malaysia, the role of an executor is crucial in ensuring the smooth transition of assets according to the wishes of the testator. Therefore, the primary responsibility of an executor is to guarantee the...
Why do you need a Will? How do you want your assets to be distributed when you are no longer around? Estate planning is, in fact, a critical financial and legal process that many individuals and families often overlook or delay. Many of us do not realize that under Malaysian law, when a person passes...
Guardianship is a legal concept that plays a vital role in ensuring the welfare and protection of minor and individual who are unable to manage their own affairs in Malaysia. Guardianship is governed under Guardianship of Infants Act 1961 which highlights the rights and responsibilities of guardians in Malaysia. In this article, we will delve...
The answer is yes. The housing loan will not automatically cease upon your death. It is the duties of your executor to call in assets. Once your executor had called in assets, he shall continue to make repayment of the housing loan using the assets you left behind. Does Mortgage Reducing Term Assurance (MRTA) covers...
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