LEGAL WILL
The Young Family and Young Couple Guide to Inheritance, Legal Wills and Final Testaments
 


 


Custom Search

As morbid as it sounds, a properly written legal will and final testament would save a lot of heartache. It would also save a lot of time and frustration. Most importantly, it would ensure that your worldly possessions get passed on to the people you want.
 
In Malaysia, assets left by a deceased without a legal will are treated following provisions of the law. This would also be the case in other countries. Of course, in Malaysia you would also have additional provisions in Islamic Law in relation to the distribution of inheritance.


You may think that since you are young and don’t own much to begin with, it may not yet be necessary to have a legal will. 

Think again.

Besides, you house and car are technically owned by the banks until you pay off your debt, are they not?


Your housing loan would be matched by insurance coverage. Same goes for your car. In the event of your death, these are paid off and become yours. Since you are already dead at that time, these assets will pass as inheritance to your family members. Without a legal will these may be distributed to other family members apart from your children and spouse, and in different proportions.
 
A legal will is a sure-fire way of making sure that your family (or any other person who you want to) inherits your wealth in the least hassle-free manner.
 
Perhaps not the best idea would be to write your own will.
 
A legal will is, well, a legal document. If there are any mistakes, you won’t be around to correct them. The living will have to accept those mistakes and move on, at their expense.
 
A professionally written legal will should help ensure that every foreseeable issue has been addressed and that the beneficiaries will not face any additional hardship in claiming what is rightfully theirs.
 
‘The only certainties in life are death and taxes’ as they say. If this is true, and you know it's coming, why not be prepared?


 
 



 


 
 
Make a Free Website with Yola.