In our last week’s article, we explored the case study of Mr. Lim and Mrs. Lim, highlighting how a testamentary trust can minimize family disputes over inheritance and ensure a smooth transfer of assets in accordance with Malaysian law. So this week, we want to discuss another scenario involving Mr. Soh and Mrs. Soh....
In estate planning, ensuring the financial security of minor children is paramount. For many parents, this raises the question: ‘Should they rely on a simple will or set up a testamentary trust?’. Let’s delve into this question through the case study of Mr. Lim and Mrs. Lim and examine how Malaysian law supports the use...
Mr. Alan and Ms. Betty are going to get married. Ms. Betty has two children with her ex-husband, and she is currently taking care of them. Mr. Alan has come to us and ask whether these two children are entitled to inherit his estate according to Distribution Act 1958, as he currently does not intent...
Louis purchased a Semi-D house two years ago for RM 650,000. Louis still owes RM 600,000 on his loan, with monthly payments of RM 3,000 at 4.1% interest per annum. Louis lives in the house with his wife and 2-year-old son; both his parents have passed away. Let’s consider this question, “What happens to Louis’s...
Peter (45 years old): “My monthly income is between RM10-15k. The assets I currently own are bank accounts, 2 houses, cars, investments and EPF. I have liabilities of around RM1 mil (mortgages & car loans).” For individuals with financial commitments and dependents, prioritizing comprehensive protection is essential. In addition to addressing basic life insurance coverage...
Ivan (Below 30 years old): “My monthly income is between RM3-5k. The assets I currently own are bank accounts, a car and EPF. I have liabilities of less than RM100k (credit card debt, PTPTN & car loan).” Financial Protection Measures Medical Coverage: Obtain personal medical insurance coverage, estimated to be less than RM300 per...
Mr Tan: “I have an outstanding mortgage loan of RM500k. I’m married with 2 children age 3 & 6 this year and my wife is not working. We don’t have any other loan. The assets that I currently own are bank accounts, shares investment, a joint-name property with my wife. Each of us have EPF...
In Malaysia, the rules of intestacy (when someone dies without a will) generally do not consider a spouse’s fidelity or personal behavior as a factor in determining their right to inherit. Instead, inheritance laws often focus on factors like marital status, kinship, or the presence of a valid Will. It’s important to emphasize that this...
The “Macau King of Gambling Estate Dispute” is a high-profile case involving inheritance rights that has garnered significant attention in recent years. While the case originated in Macau, it has also sparked widespread controversy and interest in Malaysia due to its connection with Malaysian laws and assets. This article aims to analyze the occurrence and...
The sensational murder of a Hong Kong socialite Abby Choi Tin-Fung (“Abby”) has made headlines across the world for the gruesome nature of the case. The motive for the murder was related to a financial dispute over a house Abby has bought to accommodate her former husband and his family members. We will be discussing...
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