Estate planning is a crucial aspect of securing the future of one’s assets and ensuring the smooth transfer of wealth upon death. In Malaysia, signing two Wills on the same day introduces a complex legal scenario that necessitates a comprehensive understanding of the potential consequences involved. This article delves into the intricate details of the...
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...
The loss of a family member or loved one is a period of immense grief and emotional turmoil. During this vulnerable time, the executor of a Will assumes a position of trust and authority, responsible for ensuring the deceased’s estate is distributed in accordance with their wishes. However, it is disheartening to acknowledge that in...
Estate planning involves making important decisions regarding the distribution of assets after one’s passing. However, conflicts can arise between the instructions outlined in a will and the survivorship clause associated with a joint bank account. This article delves into the legal implications and considerations surrounding whether the survivorship clause or the will prevails in asset...
Everyone is entitled to inherit assets of a deceased person either by a will created by the deceased or if the deceased has died intestate, the inheritance will be made according to Section 6 of the Distribution Act 1958. If you are considering leaving your assets to a beneficiary who has been declared bankrupt in...
What is the timeframe for submitting a probate application after someone passed away? Most people do not understand or know how probate applications work. Thus, I hope I am able to clear up the questions that people face in regard to the timeframe of submitting a probate application after the passing of a close kin....
Co-proprietorship, also known as co-ownership, is a form of property ownership in which two or more individuals jointly own a property. Each co-proprietor has a legal interest in the property and shares in the ownership rights and responsibilities of the property. There are two types of co-proprietorship: joint tenancy and tenancy in common. Joint Tenancy:...
What are digital assets? In case you’re not familiar with digital assets, let me explain simply. Digital assets refer to your online accounts such as cryptocurrency accounts, e-wallets, social media accounts, emails, and any other accounts that exist on the internet. Any account that exists online is considered a digital asset. It’s important to note...
Even though a Will can be challenged, it is still an important legal document that provides a clear expression of your wishes in regards to the distribution of your assets after your death. Here are a few reasons why having a Will is still important: Control over asset distribution: With a Will, you have control...
Creating a Will is an essential part of estate planning that ensures your assets are distributed according to your wishes after your death. While it’s possible to write a Will on your own, many people in Malaysia choose to hire a professional Will writer to help them with this important task. In this article, we’ll...
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