Malaysia Will Writing Resources
Learn how to use Will and Trust for managing your estate for your loved ones. Why many people are disadvantaged by believing the Common Misconception about writing a Will.
Latest Will News from Malaysia
Fetching RSS feed... please stand byArticles about Wills in Malaysia
This is quite surprising. In a USA Today Magazine survey, it was revealed that less than one-quarter of parents (23%) have a will! For a country that is more advance that figure is still low. I would think the percentage of people having a Will in Malaysia, is guaranteed to be much lower. Even though Malaysia is a progressing country, in this area of estate planning, many people are still ignorant about the benefits and potential pitfalls of not having a Will.
The older generation still associate Wills with impending death. Although acceptance level for the younger generation is better, many are not keen to bring up the subject with their aging parents. Most of the people who realized the importance of writing their Will are those who had to deal with the difficulties of the estate distribution process when their parent passed away.
The older generation still associate Wills with impending death. Although acceptance level for the younger generation is better, many are not keen to bring up the subject with their aging parents. Most of the people who realized the importance of writing their Will are those who had to deal with the difficulties of the estate distribution process when their parent passed away.
Articles about the importance of Wills
- 40 Billion unclaimed money
- Malaysian like to wait until too late to do something. Read why there is $40 billion unclaimed money left by the dead
Common Misconceptions about Writing a Will
Here are some common misconception about how to write a Will.
1. I don't have much assets.
This is a very common misconception. You don't write a Will because you don't have much. You do it so that whatever assets you have is transfered faster to your chosen beneficiary. You also do it so that it cause less problems for them. If you are really concern about leaving more money or assets, one way you can increase your asset is to purchase a life insurance policy that. This way, you can leave more for your beneficiary.
2. I'm still young.
This is also very common. Some people only think about writing a Will when they are in their fifties. In fact, it is quite common for people facing the prospect of death, that they finally get to write a Will, eg, going into surgery, having a major illness and nowadays, when they travel. But no one has a lease on life. We can go anytime. Anyone above the age of 18 should have a Will, even if it is a simple one.
3. I can't afford a lawyer
You don't need a lawyer to write a Will. You can write a Will yourself or better yet, they are Will Writers who specialize in writing Wills. They are in many ways better than lawyers because Will Writers concentrate on Wills alone. Many offer good advice to cater for possible situations that might happen.
1. I don't have much assets.
This is a very common misconception. You don't write a Will because you don't have much. You do it so that whatever assets you have is transfered faster to your chosen beneficiary. You also do it so that it cause less problems for them. If you are really concern about leaving more money or assets, one way you can increase your asset is to purchase a life insurance policy that. This way, you can leave more for your beneficiary.
2. I'm still young.
This is also very common. Some people only think about writing a Will when they are in their fifties. In fact, it is quite common for people facing the prospect of death, that they finally get to write a Will, eg, going into surgery, having a major illness and nowadays, when they travel. But no one has a lease on life. We can go anytime. Anyone above the age of 18 should have a Will, even if it is a simple one.
3. I can't afford a lawyer
You don't need a lawyer to write a Will. You can write a Will yourself or better yet, they are Will Writers who specialize in writing Wills. They are in many ways better than lawyers because Will Writers concentrate on Wills alone. Many offer good advice to cater for possible situations that might happen.
Other Malaysian Will & Trust Resources
- Wills writing service for Malaysians
- ..Malaysia Will writing service. Franchise holder of Rockwills
- How To Write A Will
- How different family scenarios affect writing your Will.
- Legal Definitions
- Understanding legal jargon associated with Wills
- Wills in US and Canada
- Attorneys are expensive in the US and Canada. To write an affordable Will, consider their online services
Reader Feedback
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Jasmine
Apr 26, 2011 @ 10:25 pm | delete
- How much does a will writing service cost? Just the administration fee?
What about the trustee?
I believe Amanah Raya charge 10% of total Estate. Is this true?
Please advise.
Thanks
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jameswoo
Apr 27, 2011 @ 2:40 am | delete
- Jasmine,
a will writing service cost depends on how complex your will instructions are. Administration fee is after a person dies. Amanah Raya has a schedule but I believe it is more expensive than if you appoint your own trustee.
You can contact me here to clarify your questions http://vitalwills.com/contact-vitalwills/
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John
Jun 2, 2009 @ 6:36 am | delete
- thanks for the info. Open my eyes and saw that I need to get my will done asap.
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