Facebook
Twitter
LinkedIn
WhatsApp
- What is the law governing wills in Malaysia?
In Malaysia, non-Muslims are free to dispose of their property by will however they wish, as long as it is not contrary to public policy and is done according to law. The law governing wills and testament in Malaysia is the Wills Act 1959, common law of Malaysia and judicial precedents. The Wills Act applies only to Non-Muslims in the States of Peninsular Malaysia. The Wills Act sets out some formalities that must be strictly complied with, when writing a will. - What is a will?
The Wills Act defines a “will” as a declaration intended to have legal effect of the intentions of a testator (the person writing the will) with respect to his property or other matters which he desires to be carried into effect after his death and includes a testament, a codicil and an appointment by will or by writing of the nature of a will in exercise of a power and also disposition by will or testament of the guardianship, custody and tuition of any child.
Simply put, a will is a document which states a person’s intentions regarding the distribution of his property or performance of any other matter regarding his estate after his death. A will identifies the persons who shall benefit from the gifts made in the will (the beneficiaries) and also identifies the persons who are to attend to the distribution of his estate (the executors). A will only has legal effect after the death of the testator and can be revoked or varied at any point before the testator’s death. - What are the requirements for a valid will?
The Wills Act prescribes certain formalities that must be strictly followed when drafting a will. Failure to follow the requirements stated may result in an invalid will. Compliance with the formalities will be determined by the probate court. Some requirements for a valid will are as follows:- The testator must be of full age i.e. at least 18 years old
- The testator must be of sound mind
- The will must be in writing (this can be typed by a computer and printed or hand written)
- The will should be signed by the testator and witnessed by two competent witnesses
- What property is disposable by will?
Some examples include:- Immovable property such as land and buildings
- Movable property such as cars, jewellery and other valuable goods
- Company shares
- Money
- Insurance policies
- Who benefits from my will?
The persons who benefit from the will are known as beneficiaries. Anyone aside from the witnesses to the testator’s signature can be named as beneficiaries. The names and descriptions of the Beneficiaries must be specifically stated in the will for the proper identification of the beneficiaries. - Who will carry out my will?
The person who is appointed by the testator to carry out the will is known as the executor. The executor is responsible for the management and distribution of the estates in accordance to the will. Testators with larger and more complex estates may resort to appointing professionals such as banks or trust companies for executorship work and estate administration. Alternatively, the testator may name up to 4 individuals as executors however, those individuals not bound to accept executorship upon death of testator. Therefore, testator may name replacements should the executor decline. The executor holds the assets on trust for the beneficiaries. The executors may themselves be beneficiaries under the will. - Do I need to pay the executor of my will?
Professional executors may have a set scale of charges for executorship work. Do note that the will must first authorise the executor to charge for work before the executor is authorised to do so. - How do I revoke or amend my will?
A will can be revoked by the destruction of the will with the intention of the testator to revoke it or by making a subsequent will which expressly states that all former wills are revoked. A will may be amended by a supplementary will or codicil. - What happens to assets which are not distributed under the will?
There may be assets which are not distributed by the will and these may be assets that were acquired after the writing of the will or gifts that could not be distributed to certain beneficiaries (for example, in a case where the beneficiary predeceases the testator). Such gifts would become part of the residue of the estate in absence of any alternative provisions. The residue of the estate would then be distributed as if the testator had died intestate (without a will). - Do I need a will?
Writing a will allows you to have control over the distribution of your assets. As long as the will is valid, your wishes will be carried out as far as it is legally possible. If a person dies without a will, distribution of his assets will be in accordance with the Distribution Act 1958.
A well written will facilitate proper identification and distribution of the assets, preventing unnecessary delay in the administration of your estate. Having a will allows you to map out eventualities and deal with them by setting out alternative provisions for the distribution of assets.