estate planning malaysia

Estate

Estate Planning Malaysia

Are you considering estate plans? Estate planning in Malaysia involves proper estate planning with estate planning strategies which are to distribute one’s wealth and assets to their loved people. Our estate planning services cover prepared estate plans for different estate planning cases. There are several estate planning tools to achieve estate planning objectives with the methods/forms as shown below.

will writing Malaysia

Will writing in Malaysia

Wills are documents written by the maker making a declaration to the effect of instructing the executor on how to manage his personal estate including distribution to his intended beneficiaries after his death. It can prevent any dispute, thus reduce the need for litigation lawyer.

Any conventional will must also comply with Wills Act 1959. One should choose a trustworthy executor such as their partners. Alternatively, they can appoint a professional executor such as a trust company to carry out the duties.

trust deed Malaysia

Trust Deed

One also can create trust such as insurance trust through a trust deed. A trust deed in Malaysia is a document appointing a trustee to manage his personal estate for the intended beneficiaries.

The main difference with a will is that the will can only take effect upon death while trust takes effect after the document is created. Our law firm can help and offer legal advice on it should you have plans to have one.

Trust deeds helps when it comes to property distribution for divorce procedure in Malaysia

power of attorney Malaysia

Power of attorney

Power of attorney in Malaysia (also known as ‘surat wakil kuasa) is a document instructing your appointed donee on how to exercise your rights and power on your behalf to manage some assets.

It is usually used when someone thinks they might be unfit to manage their own matters in the future.

After the estate planning process is completed and if the person passes away, there are a few manners and methods where the beneficiaries and heirs can get the estate inheritance through estate distribution process.

grant of probate

Grant of probate

Grant of probate (known as ‘probet’ in Bahasa Malaysia) is an order granted by the High Court of Malaya according to the probate law, that is the Probate and Administration Act 1959.

This order allows the appointed executor to administer the estate according to the testator’s instructions in the will including distributing the assets to the preferred beneficiaries.

letter of administration

Letter of administration

A letter of administration (known as ‘surat kuasa mentadbir’ in Bahasa Malaysia) is an order from the High Court appointing an administrator, usually the close one of the deceased to administer the deceased's assets.

If the deceased’s personal estate remains unclaimed, then it will form part of unclaimed estates.

probate law firm

Small estate administration

Our estate lawyer can help you to apply for a small estate administration and distribution order in Malaysia when there is no will and the estate is a small estate (the total worth of wealth/assets not more than RM 2 million)

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christine ng
Christine Ng

Frequently asked questions

How much does estate planning cost in Malaysia?

The costs of estate planning in Malaysia depend on the type of estate planning services required. It usually starts from a few thousand ringgit.

What is estate planning in Malaysia?

Estate planning in Malaysia involves practical estate planning strategies which are to pass one’s personal estate to the intended beneficiaries. It is usually carried out with the assistance of professional estate planners and lawyers.

Can I write a will without a lawyer in Malaysia?

Yes, but it is not advisable. Complications may happen in complex cases such as involving EPF funds or bankrupt beneficiaries. Thus, it will be better to engage a lawyer with estate planning knowledge.

What is the best age to start planning for an estate?

You can start estate planning when you have wealth succession objectives, which are to pass personal estate to preferred beneficiaries. You can get assistance from lawyers or from estate planning agents who have attended estate planning courses.