Appointing a guardian in your will is essential, but have you thought about how they’ll manage the costs of raising your child? While many people are willing to step in as guardians, raising children is expensive, and without proper financial support, even the most capable guardian might struggle. So, how can you ensure your chosen...
First, allow me to explain the concept of guardianship. Guardianship is a legal concept that plays a vital role in ensuring the welfare and protection of children below 18 and who are unable to manage their own affairs in Malaysia. It is governed by the Guardianship of Infants Act 1961. Next, let us...
Based on a 2016 survey conducted by PricewaterhouseCoopers (PwC), it was found that almost one-third, or 31%, of family businesses in Malaysia do not have a plan for passing on their business to the next generation. This reveals a significant gap in long-term planning, which the survey terms the ‘missing middle’. In the realm of...
Divorce can be complicated, especially when it comes to deciding who gets custody of the children. Laws like the Law Reform (Marriage and Divorce) Act 1976 and the Guardianship of Infant Act 1961 lay out the legal framework for resolving child custody matters. But beyond just splitting responsibilities between parents, the focus is on what’s...
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...
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...
A guardian is an individual who assumes legal and personal responsibilities for another person, often a minor (someone below the legal age), someone with disabilities, or an elderly individual who cannot make decisions independently. Guardianship is especially common for minors, where a guardian is appointed to ensure their well-being and welfare. Under Section 3 of...
When it comes to estate planning, two critical roles that often come into play are the executor of a Will and the guardian of minor children. While both positions carry significant responsibilities, their powers and duties differ considerably. In Malaysia, understanding the distinctions between these roles is essential for ensuring the smooth administration of estates...
What is a Guardian? In Malaysia, a guardianship is a legal arrangement in which an individual is appointed to take care of and make decisions for a minor or a person who is unable to manage their own affairs due to mental or physical incapacity. The person who is appointed as the guardian is responsible...
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