In this article, we would like to debunk some myths about Wills in Malaysia and separate them from facts.
Myth #1: I need a lawyer to help me write a Will.
The law does not provide that Wills in Malaysia can only be written by a lawyer for a person. Unless of course your circumstances involve extremely complex family situation, then you may want to be guided by an experienced will writer / lawyer to customize your Will. We suggests you choose your lawyers wisely as different lawyers specialize in different laws; which means that not every lawyer knows how to draft a proper Will.
For more straightforward family situation, there are increasingly more will writing service providers out there to help the general public in writing Wills. This includes financial planners and bankers.
Myth #2: I am single. I don’t need a Will.
If your net worth is positive, this means you have assets to distribute. You should have a Will. For example, if you have inherited part of a property (and the remaining part is owned by another person), you should decide how to pass this on. Without a Will, your various next-of-kin (ie. your parents) would have a stake in the inherited property together with that other person.
If you are broke and have a lot of debts, you don’t really have much asset to distribute. You don’t necessarily need a will (yet).
Essentially, a Will details your last wishes. When you are no longer in this world to speak for yourself, having clear instructions to the living is absolutely important in avoiding disputes.
Myth #3: I am still young. I don’t need a Will.
In Malaysia, a will made by a person aged 18 and above is valid. Whether you are 23 or 32, you can have a Will. The brutal point here is that we don’t know when we will die.
Myth #4: It is expensive to write a Will.
The price you pay for writing a Will usually ends up way cheaper compared to what your loved ones would have to pay later if there should be any disputes about distribution of your assets when you die without a Will.
Myth #5: There are complex formalities to follow in Will writing.
In movies, you may have seen red ribbons or seal on a Will. In Malaysia, there is no legal requirement to seal a Will. Here at 99wills, we are able to guide you in your signing of the Will to ensure validity of the Will. Once it is validly signed by you and your witnesses, you officially have a Will. Please keep it somewhere safe.
Browse our pages or contact us to know more.