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When a person passes on, his/her assets are frozen and it can only be undone when a Grant of Probate or Letter of Administration is obtained from the High Court. Writing your Will will speed up the distribution process. |
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Under the Distribution Act 1958', your assets will
be divided between your surviving spouse, children and parents in a
certain proportion. But here is a complication, your parents may have
survived you and since they are elderly and likely to pass on soon after
you, your assets may be subdivided further between your brothers and
sisters, and to other receipients. Result? Difficulty in liquidating
your assets later as there will be many additional claimants. To prevent
this from happening, you must write a Will.
-Only apply to non-Muslims in West Malaysia and Sarawak. |
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A person dies
WITH a Will
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A person dies WITHOUT a Will
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1
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You
provide for your beneficiaries in the Will you choose rather than
letting the laws decides. |
Your estates will be distributed under The Distribution Act 1858 (As amended in 1997). See below: |
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2 |
Partner, step children, illegitimate children, aged relative
or others who depend upon you can be provided for in a Will.
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Under the law, there is no provision for these group
of people. They might fall into financial difficulties without your
support.
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3
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You exercise the right to appoint people of your choice to
administer your estates & to carry out your wishes, safeguarding
the interest of those you love and care.
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The High Court decides for you. Might not be your choice.
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4
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No family contention could arise over the choice of administrator.
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Family conflicts arises on the choice of administrator.
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5
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You may appoint guardian of your choice for your infant children.
So that their Support, health and education will be taken care of.
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The High Court decides for you. Might not be your choice.
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6
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No sureties are required for Grant of Probate.
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Two sureties are required to provide security for the due administration of the estate. The security shall be equivalent to the gross estate. There will be delay in administration. |
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7
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It cost less in term of legal fees to apply for GOP than LA.
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Legal fees could be costly.
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8
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With a Will the whole legal process could be just a couple
of months.
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The legal process could take years. Assets could have
shrink in value when LA is obtained.
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9
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Your loved ones are financially protected.
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Your family could be facing serious financial difficulties.
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