The Importance of Will Writing in Malaysia
Writing a will is an essential yet often overlooked step in estate planning in Malaysia.
A will is a legal document that outlines how an individual’s assets and estate will be distributed upon their death.
Without a valid will, assets are divided according to Malaysia’s Distribution Act 1958, which may not reflect the deceased’s personal wishes and can lead to disputes among family members.
A valid will in Malaysia must fulfil the following requirements:
- the testator (person writing the will) must be at least 18 years old, of sound mind, and the will must be written voluntarily without coercion;
- the will should clearly state how the assets are to be distributed, identify beneficiaries clearly, and name an executor responsible for ensuring the will is executed according to the testator’s wishes.
- The will must be signed by the testator and witnessed by at least two individuals who are neither beneficiaries nor spouses of beneficiaries.
Engaging a lawyer to draft your will is highly advisable, as they possess the expertise to ensure clarity, and significantly reduce the risk of future legal disputes, thus safeguarding your estate and ensuring your wishes are fulfilled accurately.
Regularly reviewing and updating a will is equally important, particularly after significant life events such as marriage, divorce, birth of children, or acquisition of substantial assets.
In summary, proactive will writing in Malaysia ensures your wishes are honored, provides peace of mind, and minimizes potential legal disputes among loved ones.