Handling estate matters after the passing of a loved one can be an overwhelming experience, especially when you’re tasked with carrying out their final wishes. Even when a will exists, many families and executors feel unsure about the next steps. Finex & Co understands these challenges and are here to provide the support you need...
Many people spend their lives working hard to build security and comfort for their loved ones, yet few stop to think about how that security continues when they are no longer around. It is not an easy conversation to have, but it determines if your family faces stability or uncertainty in the future. Knowing why...
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...
Have you ever wondered if an adult child is eligible to act as a witness to their parent’s will? Consider this scenario: a mother prepares a will giving all assets to her son and asked her 20-year-old daughter to sign as a witness. Since the daughter is neither a beneficiary nor entitled to any...
Taking on the role of executor? You are probably wondering about some key responsibilities, like handling debts. No worries—let’s walk through the essential points step-by-step to make everything clear. What Happens if There’s More Debt Than Assets? An estate is deemed ‘insolvent’ when its debts exceed its assets. In such cases, the estate’s assets...
Question: “My husband has passed away recently, and we did not write a Will before. We have no children. My husband has some savings, investments, and one property which is under his own name.” Answer: In this scenario, your husband is said to have died intestate. His estate will be distributed according...
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...
The probate or administration process in Malaysia is the legal avenue through which the estates of deceased individuals are distributed according to their wishes or in accordance with the law. If a deceased person has not provided instructions for some of their assets and properties, the distribution of such assets or properties will follow the...
In the event of an individual’s passing with a Will in place, the procedure entails seeking a Grant of Probate. However, if a legally valid Will is absent, the course of action shifts to obtaining a Letter of Administration, a more intricate process in contrast to the Grant of Probate. The timeframes for applying for...
It is customary for many elderly individuals to avoid creating a Will due to considering it a taboo. Nevertheless, opting not to draft a Will could potentially create more difficulties for your family members rather than being of assistance to them. Let’s have a general run through on how Wills work. When your parents pass...
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