When There's A Will, There's A Way: A Practical Guide - Raj, Ong & Yudistra Advocates & Solicitors

When There’s A Will, There’s A Way: A Practical Guide

Joshua Ho
Partner at Raj, Ong & Yudistra

Will writing is an essential process that ensures the distribution of an individual’s assets according to their wishes after their death. It is crucial to write a will in Malaysia, as it helps to avoid conflicts and confusion amongst beneficiaries.

A will is a legal document that outlines how an individual’s property, assets, and possessions should be distributed among their heirs or beneficiaries. In this article, we will discuss the will writing process in Malaysia and the factors to consider when creating one.

1. Determine your assets and liabilities

Make a list of all your assets and liabilities, including your bank accounts, properties, investments, debts, and other obligations. This information will help you decide how to distribute your assets fairly among your beneficiaries. It is also essential to consider any outstanding debts or obligations that may affect the distribution of your assets.

2. Determine your beneficiaries

Decide who you want to inherit your property, assets, and possessions. It is essential to list down the beneficiaries’ names and it is best include their relationship with you, such as spouse, children,
siblings, parents, or friends.

3. Determine your executor

An executor is a person who will manage your estate and ensure that your assets are distributed according to your wishes. It is essential to appoint someone trustworthy and capable of handling your
affairs. You can also appoint a professional executor, such as a lawyer or an accountant.

4. Seek legal advice

It is recommended to seek legal advice from a lawyer who specializes in estate planning and will writing. A lawyer can provide you with expert advice on the legal requirements of writing a will and
ensure that your will is valid and enforceable.

5. Draft your will

With the help of your lawyer, draft your will, including all the necessary details, such as the beneficiaries names, the executor’s name, and the assets and liabilities. Ensure that your will is clear
and concise, and all your instructions are stated explicitly.

6. Signing your will

Once you have drafted your will, you need to sign it in the presence of two witnesses. The witnesses must be above 18 years old and not beneficiaries under the will. The witnesses must also sign the will to confirm that they have witnessed your signature.

Legal Audits (Vol 1, Pt 1)

Patrick Lim Partner at Raj, Ong & Yudistra Legal contract audits are important for companies to ensure that their contracts are in compliance with relevant laws and regulations and that they accurately reflect the terms of the agreement between the parties. These audits can help identify potential issues or gaps

The Follow Up – Debt Prevention 101 (Pt 3)

Patrick Lim Partner at Raj, Ong & Yudistra In the third instalment of our series exploring debt prevention or to be more accurate, “bad” debt prevention, we will be looking at the practical steps that you can take to keep your accounts current. From our experience helping clients pursue and

Achraf Hakimi – A study in asset management

Patrick Lim Partner at Raj, Ong & Yudistra As you may well have heard, during the divorce proceedings of the PSG and Moroccan defender, Achraf Hakimi, it came out that he had been placing most of his fortune in his mother’s name for a long time, reportedly even before his