In the realm of estate planning, ensuring the well-being and financial security of your loved ones is paramount. For parents with minor children, this responsibility becomes even more crucial. One effective tool in safeguarding the future of your children is the establishment of a testamentary trust. This legal arrangement offers numerous benefits that can help...
Not everyone experiences just one marriage in their lifetime; some may enter into multiple marriages for various reason like divorce, the passing of a spouse, or personal choices. Incorporating your new spouse into your estate-planning can be a complex matter, especially when children from previous marriages are in the equation. Understanding the significant consideration surrounding...
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...
The Role of Insurance Funding The significance of insurance in estate planning often goes overlooked by many people. Although some have a basic understanding of its role, it is essential to fully comprehend its importance. If you are unfamiliar with the role of insurance in estate planning, let us be your guide. The role of...
There are a few things to look out for when preparing your own Will. These are the few main common mistakes that people make when writing a Will. 1. The Distribution Method Naturally, if you do not write a Will, the Malaysian government will distribute your assets according to the Distribution Act 1958 which are...
It is not a common thing to include your mistress in your Will especially in Malaysia. However, it’s undeniable that some individuals engage in extramarital relationships. It must be noted that in Malaysia, these third parties such as mistresses or concubines or sugar baby dont have legal rights to your assets. Those rights belongs to...
These days, with the ever growing market and career opportunities, it is especially common for Malaysian citizens to pass away with assets in both Malaysia and Singapore, and possibly in other countries as well. Typically, the personal representatives of the deceased Malaysian citizen consult a Malaysian lawyer to obtain the Grant of Probate or the...
When a parent undergoes a religious conversion, it can have significant legal and cultural implications for the entire family. In Malaysia, the conversion of a father from non-Muslim to Muslim can have implications for the child’s inheritance rights. This article explores the effects of a father’s conversion to Islam on a child’s inheritance in Malaysia,...
In the aftermath of a loved one’s passing, beneficiaries of an estate eagerly anticipate the distribution of their inheritances. However, when an executor delays the distribution of assets, it can create frustration and uncertainty for beneficiaries. While it is the duty of the executor to administer the estate efficiently, delays can occur due to various...
When it comes to estate planning for families with minor children, establishing a testamentary trust can provide peace of mind and financial security for the future. Within a testamentary trust, the role of a trustee is of utmost importance. A trustee is entrusted with the responsibility of managing and safeguarding the assets for the benefit...
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