WEALTH
Why Do You Need To Make a Will ?
1. Protected assets and close relatives - Making their will allows us to determine the beneficiaries of the asset and also determine the respective ratios that the beneficiary can enjoy. If there is no will, our assets must be distributed in accordance with the Malaysian 1958 Heritage Distribution Act, which may result in some who rely on us to not gain any benefits from it.
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2. Exercise power - We can appoint an executor when making a will, or we can decide the appropriate guardian for a minor.
3. Avoid family disputes - If there is no will, our family may have to face cumbersome legal procedures and generate more family disputes. Once a dispute arises, the family may have to spend more time unfreezing the assets. Pre-testamentary will protect the spouse, and the family can get the asset allocation in a shorter period of time.
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4. Maintain control - The content of the pre-testament must be valid after the death of the testator, so the mastery of all assets is in the hands of the testator as well as being able to dispose of our assets at will.
5. Flexibility - If the testator has other plans or ideas, we only need to re-establish a new will to replace the old will.